Frequently Asked Questions
Yes. Financial need is determined for each academic year. You will need to submit a new FAFSA or renewal FAFSA every year for the upcoming academic year.
Upon being awarded, you are eligible to charge your tuition, fees, and books against your financial aid. Once all charges have been deducted from your award amount and your attendance has been verified, any excess monies will be sent to you based on the preference selected through BankMobile. If you have not received the green envelope or email from BankMobile, please contact the Cashier’s Office at [email protected] . It is critical that your correct address is on file in the Registrar's Office.
You should apply as soon as possible for the academic year you are planning to attend. You can apply starting October 1, 2017, and no later than June 30, 2019, for the academic year 2018-2019. However, eligibility for some state grants require that you apply before March 15 (prior to the fall semester you will be attending). Also, the Wake Tech Financial Aid Office requires that your FAFSA be processed and all requested documentation is turned in by July 1 in order to defer tuition and fees for fall semester pre-registration.
The federal government randomly selects approximately 30% of all aid recipients for verification. This means the Financial Aid Office must verify the information you submitted on your FAFSA by collecting tax returns and other documents to confirm the accuracy of your information. The college will contact you by email to inform you of what is needed. You should submit all documents promptly to avoid delays in processing your application.
In order to receive financial aid of any kind, you must be enrolled in an eligible program. Only a limited number of diploma and certificate programs are eligible for financial aid. Special studies students are not eligible.
To be considered a full-time student and receive the maximum amount of financial aid you are entitled to receive, you must be enrolled at least 12 credit hours. You may still be eligible to receive financial aid if you are enrolled less than full time, but your award will be reduced accordingly and in some cases, making you ineligible to receive any financial aid.
If a student's or parent's financial situation has drastically changed since filing the prior, prior year's tax return, the student should speak with a Financial Aid Specialist. There are provisions in which this may be taken into consideration and a change in eligibility could occur.
The federal government will consider you an independent student if you meet one of the following guidelines: you are 24 years of age or older; married; enrolled in a graduate program (ex., Master's or doctorate); have legal dependents other than spouse; you are an orphan or ward of the court; or you are a veteran. In all other cases, you will have to provide your parents' income information.
There are four main types of financial aid: grants (which do not have to be paid back), work-study, scholarships and loans. The FAFSA determines a student's eligibility.