Financial Aid

FAQs

Financial Aid Frequently Asked Questions

 
 

Q: How do I apply for financial aid?

A: You start by filing a FAFSA (Free Application for Student Aid). For complete instructions on how to apply, please click here.
 

Q: What is considered financial aid?

A: Financial aid is grants, loans, and work study funds.
 

Q: What is Husky Promise? Is it financial aid?

A: Husky Promise is the guarantee that qualifying students will have tuition paid for during the academic year (summer is not guaranteed). Husky Promise is not separate from financial aid; it is a grouping of aid – usually federal grants, state grants, and institutional grants. If you are considered a Husky Promise student, it will say so in your MyUW financial aid page.
 
For more information on Husky Promise, please click here
 

Q: How will I know how much financial aid I am going to receive?

A: You will receive an award letter. Award letters are now electronic (there are very few reasons why we would mail a paper award letter), and they show up in the MyUW accounts. If you go to your MyUW account, and then click on “Financial Aid Status,” you will find your financial aid information. When an award is prepared for you, the link will be in a red box. 
 

Q: How do I accept my aid? I see the award letter link in the red box, so what do I do now?

A: Read everything. You will need to follow the instructions carefully. Once you click on the link in the red box, it will take you to a page where it will ask you about Resources & Assumptions. What we want to know here is if you have any outside scholarships or aid we don’t know about. Writing something in this box will put a hold on your account. If you don’t have any aid or resources we don’t know about, leave the box blank and continue.    
 
The next page will have your actual award letter information. This is the type of aid and how much financial aid we are offering you, broken down into quarters. You must accept, reject, or partially accept all forms of aid. Read the information carefully, and click the button on the bottom to continue. 
 
The next page will have a list of the conditions of the award. Read carefully and hit the submit button at the bottom. If you do not get a confirmation message, your award letter was not accepted.   
 

Q: I’ve been offered different types of aid. Do I have to choose from the aid I’ve been awarded?


A: No. Sometimes students are offered different types of aid. You can accept all of it, or choose some of it. Sometimes students are even offered three different types of loans. Again, you do not have to choose between them – you can accept all, some, or none. 
 

Q. I’ve been offered loans, some with similar names. How are these loans different? What are the interest rates?


A: We recommend that you go to the loan charts on our website. These charts compare and contrast the loans we offer, including interest rates, length of repayment, and disbursement fees.
 

Q: I’m having trouble with my award letter.   I clicked on the link in the red box, but now I don’t see my award.

A: Make sure you are using Internet Explorer as your web browser. We have received reports of problems with other internet browsers. If you still have trouble, come to campus and use an on-campus computer or the computer in our lobby. 
 
Another common problem is that the system times out. Make sure you move through the award letter in a timely fashion.
 

Q: I signed my award letter. Now what?

A: Check the Financial Aid Status link again in your MyUW account. You should no longer see the red box (if you see the red award letter box, you need to do it again). Instead, if you’ve accepted loans, you will now see a link to sign your Master Promissory Note (MPN). When you sign the MPN, you are actually agreeing to the conditions of the loan(s) and are becoming the borrower.
 

Q: My family’s financial situation has changed. How do I report this?

A: You can complete a Revision Request: Change in Financial Situation. The change generally needs to be about a 25% change in overall income for your award to change. 
 

Q: When will my financial aid disburse?

A: Your financial aid will disburse quarterly (for how much you will receive each quarter, please review your financial aid information in your MyUW account). Aid disburses a few days before the quarter starts. 
 
We recommend that you read the UW Guide to Receiving Aid
 

Q: How does aid disburse? 

A: Financial aid will automatically pay tuition and fee charges on your account. If there is remaining money, it will be available to you through direct deposit (if you signed up for direct deposit at least 2 weeks prior to aid disbursement) or by requesting a check from the Student Fiscal Services office
 

Q: How will I know when my aid disbursed?

A: Since financial aid pays tuition and fees first, you can look at the Tuition Statement in your MyUW account. When your tuition is paid and your university account is at $0, your financial aid has disbursed. You will also see a box on your Tuition Statement that gives a summary of charges and credits on your account. You will see each form of financial aid listed here, the amount, and the date of disbursement. 
 

Q: I’m expecting an overpayment and I have direct deposit. When will I get my direct deposit disbursement?

A: Look at your Tuition Statement in MyUW. It will have a date the money was sent to your bank account. Bank time varies – it can be 3 – 5 days before you see funds in your account. 
 

Q: My financial aid is not disbursing. What do I do?

A: The most common reasons for aid not disbursing are (1) you are not registered for enough credits, (2) you never signed your MPN if you are taking out loans for the first time, (3) you never properly signed your award letter, and (4) you have a hold on your financial aid account. 
 
CREDIT REQUIREMENTS
Financial aid is always awarded at fulltime status, which means 12 credits for undergraduates, and 10 credits for graduates. 
 
If you are taking less than these credit requirements, you must contact the UWB Financial Aid office. The easiest way to do this is by emailing finaid@uwb.edu, and stating your name, student ID number, and how many credits you will be taking that quarter in your email. Not all aid can be adjusted. Some aid requires fulltime status, and you may lose part of your award.  
 
Loans will disburse at part-time status (6 credits for undergraduates, 5 credits for graduates).
 
MASTER PROMISSORY NOTE
If you are taking out loans for the first time at UW Bothell, you will need to sign your MPN. Go to your MyUW account for the link to sign your MPN. 
 
AWARD LETTER
If you think you signed your award letter, check your MyUW account. If it shows the red box with the link, it means your award letter was not signed completely. Do it again, making sure you receive the confirmation at the end. 
 
HOLDS
Financial aid holds are placed on student accounts for various reasons. Your financial aid page in MyUW will state if you have a hold on your financial aid. 
 
Contact the UWB Financial Aid office for other reasons why your aid has not disbursed. 
 

Q: I have a hold on my financial aid. Why?

A: The most common reasons for holds are for (1) Satisfactory Academic Progress, and (2) information verification. 
 
SATISFACTORY ACADEMIC PROGRESS
A hold for Satisfactory Academic Progress means that you have not completed the required number of credits in your last quarter or year to qualify for financial aid, or you have exceeded maximum timeframe for receiving aid. You will need to complete a Satisfactory Academic Progress Appeal, state the reason(s) for not meeting the qualifying requirements, and explain how you have made steps to ensure you will meet eligibility criteria in the future. Processing time is usually 2 weeks.   
 
INFORMATION VERIFICATION
Students are selected for verification for different reasons: information was left off or ambiguous on your FAFSA, information has changed dramatically from the previous year’s FAFSA, you have been selected by the government for verification based on certain criteria, or you have been randomly selected. If we request information or documentation from you (usually tax forms), we must receive it and review it before the hold on your account can be lifted. Processing time is usually 2 weeks. 
 

Q: Do I have to apply for financial aid every year?

A: Yes. You must file a FAFSA every year, and we strongly recommend that you file it by our priority deadline of February 28, annually. 
 

Q: How do I apply for summer aid?

A: We assume that students will not be taking summer classes, and award financial aid for the academic year only (autumn, winter, and spring). However, if you will be taking summer classes and need financial aid, you must file a FAFSA for the next year (summer is the start of the new financial aid year), as well as complete the online UW Summer Aid Application (link available on our website in the spring). 
 

Q: Is summer aid different than academic year aid?

A: Sometimes. Husky Promise cannot be guaranteed, and sometimes state grants are not available in the summer. We try to make up the difference elsewhere, so you may actually receive different types of aid in the summer than the academic year. 

The credit requirements for summer quarter are the same. Fulltime for undergraduates is 12 credits, and 10 credits for graduates. There is no change. 
 

Q: What is the best way to contact your office if I have additional questions?

A: Our website has a lot of information, and if you need immediate attention, you may want to look online to see if we have the answer to your question. 
 
We are always happy to talk to you about financial aid matters, and welcome phone calls, emails, appointments, and walk-ins. We are occasionally available by chat. You can reach us by calling (425) 352-5240, by email: finaid@uwb.edu, and by stopping by our office in room 160 of UW-1. 
 
Our busiest times are right before the start of the quarter, and we recommend that you include your name, student ID number, and issue when calling and emailing.  Please do not email more than once or leave multiple voicemails.  Rest assured, someone will get back to you as soon as possible, but a large volume of calls and emails only slows us down and increases your wait time.