Savanna Hoffman
Western Governors University (WGU) is approved by the U.S. Department of Education to offer federal student aid in all degree programs. The university offers a variety of ways to help students make their tuition more affordable, including grants, scholarships, and financial aid. Students can also take out federal student loans, which are available to most WGU students. These loans can be either subsidized or unsubsidized and are borrowed money that must be paid back with interest. The university also offers a Federal Work-Study Program, which provides part-time employment to help students pay for their education expenses.
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What You'll Learn
Federal student loans and Pell Grants
Federal student loans are available to graduate students who want to further their careers and education. These loans eventually need to be repaid, but they can help thousands of students afford their tuition costs. Graduate students are considered “independent," meaning their eligibility is not based on their parents' income and financial status. Students can set up payment plans and are eligible for lower interest rates with federal student loans. Direct unsubsidized loans, for example, are not based on financial need and are available to most WGU students. However, students are responsible for the interest from the day they borrow the money until they pay off the loan.
Pell Grants, on the other hand, do not need to be repaid. They are need-based and are available to students who have not yet earned a bachelor's degree. The federal government uses a standard formula to compute eligibility and the grant amount. There is a lifetime limit of 12 semesters of grants, and they can only be used for undergraduate coursework. Pell Grants can provide anywhere from a few hundred to a few thousand dollars each semester, depending on the student's financial need.
To determine eligibility for federal student loans and Pell Grants, students need to fill out the Free Application for Federal Student Aid (FAFSA). The FAFSA will consider factors such as income levels, tuition costs, and where the student lives and goes to school. WGU's financial services staff can help students attain the maximum amount of financial aid available, including Pell Grants and federal student loans.
In addition to federal student loans and Pell Grants, WGU offers other financial aid options to help make tuition more affordable. These include scholarships, work-study programs, and flat-rate tuition. WGU's tuition rates are significantly lower than the national average, and the university passes the savings from its low overhead costs directly to its students. As a result, many WGU students are able to graduate with minimal or no student debt.
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Direct Subsidized and Unsubsidized Loans
WGU is approved by the U.S. Department of Education to offer federal student aid for all its degree programs. This includes Direct Subsidized and Unsubsidized Loans. Both of these are low-interest federal student loans that can help you pay for the costs of college or career school. However, it is important to understand the differences between the two before accepting either one.
Direct Subsidized Loans are need-based loans for undergraduate students. They do not accrue interest while you are in school at least half-time or during deferment periods. Your school will determine whether you qualify for this loan type and the amount you can borrow based on your financial need, your cost of attendance, and any other financial aid you may have received.
On the other hand, Direct Unsubsidized Loans are available to undergraduate, graduate, and professional students and are not based on financial need. Eligibility is determined by your cost of attendance minus other financial aid. Interest is charged during in-school, deferment, and grace periods. You are responsible for the interest from the time the loan is disbursed until it is paid in full.
The maximum amount you can borrow each academic year for both loan types depends on your grade level and dependency status. Your school will determine which loan types you qualify for and the amount you can borrow. It is recommended that you accept a Direct Subsidized Loan first and then, if you still need additional financial aid, accept the Direct Unsubsidized Loan.
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Flat-rate tuition fees
Western Governors University (WGU) offers flat-rate tuition fees, which means that students pay a fixed rate for a term of six months, rather than paying per credit hour. This pricing structure allows students to take as many courses as they can manage within the six-month term, without paying extra. This flat-rate tuition model incentivises students to complete their degree programmes faster, resulting in both time and cost savings.
The flat-rate tuition at WGU covers all coursework completed within the six-month term. The university's programmes are competency-based, meaning students can progress through the courses at their own pace as they master the material. This flexible approach enables students to save money by completing more courses within a single term.
The average yearly bachelor's degree tuition at WGU is $8,300, which is significantly lower than the national average of $17,709. Similarly, the average yearly master's tuition at WGU is $8,856, compared to the national average of $20,513. These affordable tuition rates make WGU an attractive option for students seeking a quality degree at a lower cost.
To further assist students in financing their education, WGU offers various financial aid options, including grants, scholarships, and loans. Students can fill out the FAFSA to determine their eligibility for federal financial aid, such as Pell Grants and student loans. Additionally, WGU's low overhead costs, due to its online nature without classrooms or sports arenas, contribute to keeping tuition rates low.
WGU's flat-rate tuition model provides students with the flexibility to take multiple courses within a term without incurring additional fees. This unique pricing structure, combined with financial aid opportunities, helps students graduate with minimal student debt and makes pursuing a degree a more accessible and affordable option.
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Work-study programs
WGU offers a variety of financial aid opportunities to help students pay for their education. These include scholarships, grants, loans, and work-study programs.
The Federal Work-Study (FWS) Program provides part-time employment to students enrolled at WGU and its state affiliates. This program allows students to earn money to help offset the costs of attending WGU. To be eligible for the FWS program, students must meet the general eligibility criteria and FWS positions must be available. FWS employment is governed by employment conditions, including the rate of pay that is appropriate and reasonable according to the type of work performed, the geographic region, the employee’s proficiency, and any applicable federal, state, or local laws, including minimum wage rates. The total amount for a work-study award depends on when a student applies, their level of financial need, and the school’s funding level.
Priority is given to students who indicate their interest in the work-study program in the “Select My Financial Aid” section on the student portal. The maximum award is the cost of attendance (COA) minus student aid index (SAI) and other financial assistance (OFA). The program encourages community service work and work related to the student’s course of study.
Students interested in applying for the Federal Work-Study Program should begin by completing the Free Application for Federal Student Aid (FAFSA). It is important to complete the FAFSA as early as possible, as schools often award work-study funds on a first-come, first-served basis.
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Scholarships
WGU offers a robust program of scholarships to qualified students, thanks to the generosity of numerous corporations and foundations, as well as its own suite of scholarships. Scholarships are one of the ways WGU removes obstacles to achieving your educational goals and improving your career opportunities.
To be considered for WGU scholarships, you must first be provisionally accepted as a student. You are eligible to apply for scholarships 90 days before and up to 30 days after your degree start date. The application process involves answering questions with around 200 words per answer and may include a phone interview.
WGU offers scholarships for adult learners facing significant financial barriers, readmission students, and those pursuing a degree in high-demand fields. There are also scholarships for rural residents, students without access to traditional funding, and those who need assistance with technology and internet access.
Additionally, WGU provides scholarships for Denver Public Schools (DPS) paraprofessionals seeking teacher licensure and AmeriCorps alumni completing bachelor's or master's degrees. The University of You Scholarship is one of WGU's most substantial scholarships, supporting adult learners in overcoming financial barriers to earning a degree.
WGU also offers a $3,000 Back to School Scholarship to help students graduate on a budget, as well as the CCBA Next Step Scholarship in partnership with the Community College Baccalaureate Association. Furthermore, there are scholarships specifically for WGU alumni pursuing a master's degree and the children or spouses of WGU graduates.
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Frequently asked questions
Yes, WGU is approved by the U.S. Department of Education to offer federal student aid in all degree programs. Students can take out federal student loans or apply for Pell Grants, scholarships, and work-study programs to help finance their education.
To apply for federal student loans, you must fill out the Free Application for Federal Student Aid (FAFSA). The FAFSA will determine your eligibility for federal student loans and Pell Grants, as well as your eligibility for state and institutional need-based aid.
The federal government sets standard interest rates for student loans, which can change from year to year. These rates are typically kept low so that borrowers are not burdened with high interest when paying off their loans. It is important to note that interest on student loans begins accumulating immediately, so it is recommended to start paying off the interest as soon as possible.
