Financial Aid

Financial Aid Jargon

Repayment Schedule

The repayment schedule discloses the monthly payment, interest rate, total repayment obligation, payment due dates, and the term of the loan.

Satisfactory Academic Progress (SAP)

A student must be making Satisfactory Academic Progress towards a degree in order to continue receiving federal aid. View WIU’s SAP Policy.

Scholarship

A form of gift aid that does not have to be repaid. Many scholarships are restricted to students in specific courses of study, or with academic, athletic, or artistic talent.

Selective Service

Registration for the military draft. Male students who are US citizens and have reached the age of 18 and were born after December 31, 1959 must be registered with Selective Service to be eligible for federal financial aid. Students needing help resolving problems concerning their Selective Service registration should call 1-847-688-6888 or online.

Student/Alumni Records System (STARS)

The WIU online system that provides students access to their university records, including billing statements, financial aid notifications, class schedule, etc. Parents may also be granted restricted use of STARS by their student in order to view University information.

Student Aid Report (SAR)

Report that summarizes the information included in the FAFSA that is provided to the Financial Aid Office. The SAR will also indicate the amount of Pell Grant eligibility, if any, and the Expected Family Contribution (EFC). You should receive a copy of your SAR four to six weeks after you file your FAFSA.

Subsidized Loan

A federal student loan for which the government pays the interest on the loan while the student is in school, during the six-month grace period, and during any deferment periods. Subsidized loans are awarded based on financial need, and students will be notified of their eligibility on their financial aid award letter.