Types Of Financial Aid

Federal Aid

Federal financial aid is funding that is provided by the United States government. Merit- and need-based student aid can include grants, loans and work-study programs. The information below details the types of federal student aid available. The only form needed to apply for the aid below is the Free Application for Federal Student Aid (FAFSA), unless otherwise noted.

Federal Work-Study (Student Employment)

Work-Study is a limited need-based employment program that allows students to earn a paycheck working part-time on campus or at non-profit community service agencies. It is designed for those who are pursuing an eligible WCTC degree.

To apply for Work-Study, students must:

Payment information for Work-Study students:

  • Federal Work-Study is paid in bi-monthly paychecks just like most part-time jobs. Federal Work-Study earnings are not automatically subtracted from what is owed to WCTC.

Pell Grants

These are need-based grants awarded to students pursuing their first post-secondary degree. Student eligibility/award amount is determined by the U.S. Department of Education.

Supplemental Educational Opportunity Grants (SEOG)

This is a limited grant program available to students with high financial need. The institution, within federal guidelines, determines the award amount.

The Federal Direct Loan Program

Direct Loans are funded through the U.S. Department of Education using funds obtained from the U.S. Treasury. This program offers students and parents with one point of contact since the loans are made, backed and serviced by the U.S. Dept. of Education and borrowers make loan payments to the Dept. of Education for the life of their loans.

Federal Direct Loans must be repaid upon dropping below half-time enrollment or graduating. Depending upon your income, the loan may be subsidized ( need-based, interest is not charged while you are in school) or unsubsidized (non-need-based, interest is charged while you are in school). The loan has a 10-year standard repayment period, and there is no pre-payment penalty. The interest rate is fixed and is determined, by the date the loan is disbursed (see chart below). An origination fee, which is partially offset by a federal rebate, results in a net fee incurred when the loan arrives (see chart below).


Loans Distributed Between Interest Rate Net Fee
7/1/2012 - 6/30/2013 3.40 % 1.000%
7/1/2013 - 6/30/2014 3.86 % 1.051%
7/1/2014 - 6/30/2015 4.66% 1.072%


Loans Distributed Between Interest Rate Net Fee
7/1/2012 - 6/30/2013 6.8% 1.000%
7/1/2013 - 6/30/2014 3.86 % 1.051%
7/1/2014 - 6/30/2015 4.66% 1.072%

To apply for a Direct Loan:

  • Complete the FAFSA
    Federal Direct Loans require students to complete the FAFSA and be admitted and enrolled at least half time (six credits) in an eligible program.
  • Complete the online Entrance Counseling
    All first-time loan recipients are required to complete online entrance counseling which will describe the terms of the Direct Loan as well as your rights and responsibilities as a Direct Loan borrower.
  • Complete the Direct Loan Master Promissory Note
    The Direct Loan Master Promissory Note is the legally binding document you sign agreeing to repay the Direct Loan. You may sign the MPN electronically with your U.S. Department of Education PIN number, or you can print and mail it.

Repayment information: Direct Loans enter repayment six months after you graduate or drop below half-time enrollment. If you drop below half-time enrollment, graduate or leave WCTC, you are required to complete an online exit counseling session, which will describe your repayment information.

Parent Loans for Undergraduate Students (PLUS)

This Federally insured 7.9 percent fixed interest rate loan is available to parents of dependent students. PLUS loans enable parents to borrow up to total cost of education for an academic year, less any aid awarded to the student. Repayment begins 60 days after loan is fully disbursed. In addition to submitting the federal PLUS Loan Application, a separate WCTC PLUS Loan application is required.

To apply for a PLUS loan:

  • Complete the FAFSA
    WCTC students must file the FAFSA to determine grant eligibility prior to the parent applying for the Parent PLUS loan. Students should also apply for the lower-interest Direct Loan before a parent applies for a Parent PLUS loan
  • Complete the WCTC PLUS loan application
    Download the WCTC Parent PLUS loan application and mail it or fax to the WCTC Financial Aid department.
  • Complete the PLUS Loan Master Promissory Note (MPN)
    The Parent PLUS Loan Master Promissory Note is a legally binding document agreeing to repay the Parent PLUS loan. You may sign the MPN electronically with your U.S. Department of Education PIN number, or you can print and mail it.

Repayment Information: The PLUS loan goes into repayment 60 days after it is fully disbursed for the year, but parents can make arrangements to make interest-only payments while the student is in school. Parents can even make arrangements to defer all payments until after the student graduates by requesting forbearance from the loan servicer yearly.

Parents desiring PLUS loans are required to apply yearly. Get more information.

State of Wisconsin Aid

A number of state aid programs are available to Wisconsin residents. The following is a brief description of the programs. More information is available at the Wisconsin Higher Educational Aids Board (HEAB) website. HEAB is the state agency charged with monitoring and establishing award criteria for state aid programs. The only form needed to apply for the aid below is the Free Application for Federal Student Aid (FAFSA).

Wisconsin Higher Education Grant

The WHEG program provides grant assistance to undergraduate, Wisconsin residents enrolled at least half time in degree programs at Wisconsin technical and University of Wisconsin colleges, and Tribal institutions. Awards are based on financial need. Eligibility cannot exceed 10 semesters.

Wisconsin Academic Excellence Scholarships

Academic Excellence Scholarships are awarded to Wisconsin high school seniors who have the highest grade point average in each Wisconsin high school. Students are nominated by their high school and must be enrolled on a full-time basis.

Wisconsin Talent Incentive Program (TIP)

The TIP Grant provides assistance to financially needy and educationally disadvantaged Wisconsin resident students attending Wisconsin colleges and universities First-time freshmen students are nominated for the TIP Grant by counselors of the Wisconsin Educational Opportunity Programs (WEOP). Interested students should contact their high school counselor, WCTC's Financial Aid department or their contact their regional WEOP coordinator.

Wisconsin Minority Retention Grant

These need-based awards are provided to Wisconsin resident minority undergraduates enrolled at least half time in their second year or a two-year academic program. According to Wisconsin statutes, a minority student is defined as a student who is either an African American; American Indian; Hispanic; or Southeast Asian from Laos, Cambodia or Vietnam admitted to the U. S. after Dec. 31, 1975. To be considered for the grant, contact the WCTC Financial Aid department.

Wisconsin Tribal / Indian Grants

Wisconsin residents who are at least 25 percent Native American and are undergraduate or graduate students enrolled in a degree program may apply for these grants. Awards are based on financial need with a limit of 10 semesters of eligibility. HEAB has an informal matching arrangement with grant funds awarded by the Federal Bureau of Indian Affairs and Wisconsin Tribal governments. For eligibility requirements, dollar amounts and applications, visit the HEAB website.

Wisconsin Hearing and Visually Handicapped Student Grant

These need-based grants are awarded to Wisconsin undergraduate students who have a severe hearing or visual impairment. A separate application may be obtained at the HEAB website.

Wisconsin Nursing Loan

The Wisconsin Nursing Loan provides loans to Wisconsin residents who are enrolled at least half time at an eligible in-state institution that prepares them to be licensed as LPN or RN nurses. The student who participates in this program must agree to be employed as a licensed nurse in Wisconsin. For each of the first two years the student works as a nurse and meets the eligibility criteria, 25 percent of the loan is forgiven. The balance remaining after forgiveness must be repaid at an interest rate of 5 percent. If the student does not practice nursing and meet the eligibility criteria, the loan must be repaid at an interest rate of 5 percent. If funds are available, eligible students will be contacted by the Financial Aid department to apply for this loan.


Scholarships are financial awards given to students that do not need to be paid back. These can be merit-based, need-based and program- or career-specific. Additionally, a FAFSA is not required to be filed in order to be eligible for scholarships.

There are essentially two types of scholarships available to WCTC students: WCTC Foundation Scholarships and external scholarships.

Foundation Scholarships

What are WCTC Foundation Scholarships?

WCTC Foundation Scholarships provide benefits to students in nearly every program area. There are also specialty scholarships that benefit non-traditional students, minority students, and students with disabilities.

Filling out the Free Application for Federal Student Aid (FAFSA) is not required, however many scholarships are based on financial need and other criterion. FAFSA results are required if you wish to be considered for need-based scholarships.

Application Deadline

  • The deadline for Fall semester scholarships is August 1
  • The deadline for Spring semester scholarships is November 1

New/Continuing Students

Requirements to Apply - The following requirements must be met before each deadline:

  • You must complete the WCTC Admissions Application
  • You must be accepted into a program
  • You must have a 2.0 GPA or higher
  • You must be enrolled in 6 or more credits for the upcoming semester

Instructions to Apply

Please follow these instructions to apply for scholarships.

  • Go to the Online Application
  • In the upper right corner, click the “Sign In” button and log in using your WCTC Username and Password
  • Complete the general application and submit all required attachments

After a team of volunteers reviews all Foundation Scholarship applications, your application will be ranked against all others and then matched to specific scholarship opportunities based upon your qualifications. All applicants will be notified of the results throughout October for Fall Scholarships and throughout March for Spring.

If you qualify for a WCTC Foundation Scholarship, then an appropriate note of thanks to the donor is required before funds are disbursed.

External Scholarships

WCTC students often qualify for awards from external organizations. You are encouraged to pursue all opportunities. Don’t wait to be accepted to a college to begin researching and applying for scholarships.

Free Scholarship Search Sites

Reporting External Scholarships to the WCTC Financial Aid Office

You are required to provide a written notification to the WCTC Financial Aid Office of all external scholarships you receive. In some cases, these funds may be used to repay a portion of loans that you’ve already received.

Scholarship checks are usually made co-payable to the student and WCTC. If a check is made payable to WCTC or to you and WCTC, then it must be submitted to the WCTC Financial Aid Office. Scholarship funds will be applied to your account and the proceeds will be split equally between both semesters, unless otherwise indicated by the donor.

  • If the check is made co-payable to you and WCTC, then sign the back of the check and submit it to the WCTC Financial Aid Office. Include your student ID number on the front of the check.
  • If the check is made payable only to WCTC, submit it to the WCTC Financial Aid Office and include your student ID number of the front. You do not need to sign the check.
  • If the check is made payable only to you, then notify the WCTC Financial Aid Office of the donor and the amount. You are not required to send the check to WCTC.

If a donor requires verification of enrollment, you may log in to your My WCTC Account and print a copy of your class schedule for the semester. You may also contact the Registration Office at 262.691.5578.

Scholarship Scams

Be aware of tactics to convince students to utilize their services. Avoid applications that require fees or Social Security Numbers. In most cases, these companies are attempting to sell software, books and other services unrelated to scholarships.

Veteran/Military Benefits

Any student who has served in any branch of the military in the United States, including regular service, Selected Reserves or National Guard, may be eligible for some form of financial assistance. For detailed information on these benefits, visit the WCTC Veterans page.

Emergency Assistance

Unforeseen financial emergencies are reported as one of the top reasons students drop out of school. The WCTC Foundation is helping to change that by providing financial assistance to students faced with short-term financial emergencies. GradReady provides students access to online financial planning tools and refers students to other achieve their educational and life goals.

Please contact your program counselor to determine if you qualify for emergency grants or other resources. Visit GradReady to begin your financial and life management plan.