If you were recently awarded a Federal Direct Loan as part of your Winthrop University financial aid package, there are 2 more steps to complete.  All first time borrowers MUST complete an ENTRANCE COUNSELING SESSION and sign a MASTER PROMISSORY NOTE before the loan can be credited to your account.

1. Complete entrance counseling

2. Sign the Master Promissory Note online:

Your Federal Direct Loan will not credit to your account until you have successfully completed the Entrance Counseling and signed the Master Promissory Note.

Your loans may be subject to cancellation if you do not complete the above items.

Some families prefer a monthly installment plan.  Winthrop offers an Equal Payment Plan with four payments each semester.  Information for this program is available through the Controller’s Office by calling (803)323-2165.   While interest is not charged for this program, there is a $30 fee per semester for setting up your account.

When completed and signed correctly, an electronic FAFSA goes into the federal processor's database immediately. Application information becomes available to the schools you have listed about one week later. Each school's processing cycle differs, but generally speaking it will take a minimum of 2 weeks for an award to be processed.

If a student files the paper version of the FAFSA, it will take a minimum of four weeks to get a Student Aid Report and for the colleges to receive that information from the central processor. At that point, if a student has been admitted to the university, and if no additional information is required, it should take approximately two-three weeks for our office to send an award notification to the student.

If a student applies by March 1, our office would receive the information by mid-March, so it would be mid-March before the student would hear from the Office of Financial Aid.

Notification of financial aid awards will be sent by email to all students who have provided email addresses to the Office of Admissions or on the Free Application for Federal Student Aid (FAFSA).  Most awards are made for both the fall and spring semesters. The email notification will instruct students to log into Wingspan, the university’s electronic communication system.  Complete details on how to log into Wingspan will be provided to students.  Paper notifications will be sent to students who have not provided email addresses.  These notifications will include steps students should take to accept or decline aid using the paper form.

Students who receive email award notifications may view, accept, or decline aid on Wingspan.  Links are provided to detailed information on financial aid programs, student rights and responsibilities and other helpful information.  Students should accept or decline aid within 30 days of the notice of award.  Students who are awarded funds through loan or work study programs will receive additional information about these programs during the summer.

Students are considered for academic scholarships based on the admissions application and the information that accompanies it (Office of Admissions). Students are considered for need-based aid based on the information they provide on the FAFSA (Office of Financial Aid).

There are also outside types of aid that are available, but students have to do a little homework to apply for those. There are good Internet sources available on the Internet. Many high school counselors compile information for the areas they serve. There are also reference books available that are published by Peterson’s, Lovejoy, and the College Board. All types of information are included in these books, and they are usually available in public libraries and school libraries.

The LIFE program is a scholarship available to South Carolina residents who meet 2 of the following 3 criteria at high school graduation:

1. earn a cumulative 3.0 - B average at the time of graduation
2. earn a score of at least 1100 on the SAT
3. graduate in the top 30 percent of his/her class

Please remember that rounding of scores, grades, or rank is not permitted.

The award is up to $5,000 for students who plan to attend a four-year institution in state. The scholarship is renewable for students who keep a 3.0 cumulative GPA and earn 30 semester hours in college each year.

Students must continue to earn an average of 30 semester hours each year and a cumulative GPA (as defined in the above paragraph) of at least 3.0 and meet all general eligibility requirements.

Eligibility for transfer students to receive LIFE Scholarship is not determined until all transcripts from all schools attended have been received and reviewed.

Eligibility to receive LIFE for students enrolled at Winthrop and continuing their enrollment will not be determined until all grades are posted at the end of spring term.

Those students are still eligible for an unsubsidized direct loan. They would be responsible for the repayment of interest while they are in school. But the interest rate is very modest on those loans.

Also, parents might be interested in applying for Parent Loans for Undergraduate Students (PLUS). Parents are generally eligible for loans up to the cost of attendance for the student minus any financial aid the student may receive. The interest rate is capped, and there is generally a ten year repayment period. Applications for PLUS loans can be requested through the Office of Financial Aid.

Winthrop also has a payment plan available through the business office. The balance due for each semester would be divided into four payments that would be paid over the course of the semester. There is no interest charged, but there is a $30 participation fee per semester.

There are also jobs available on campus for students who would like a part-time job. The Office of Financial Aid keeps a current list of jobs that are available.