Washington University bases most financial assistance on a careful assessment of financial need. The university also offers a limited number of academic scholarships and fellowships based solely on academic merit. Other financing options and innovative plans, such as the university's Partners in Education with Parents and the Installment Payment Plan, the monthly payment plan administered by Higher One, assist students and parents in financing the university's costs.
Eligible Washington University undergraduate students receive need-based financial assistance, which is offered in combinations of scholarships and grants, federal student loans, and part-time on-campus employment.
Applicants' financial circumstances are considered individually in the financial assistance process. In evaluating the extent of each applicant's need, the university considers many factors besides family income, such as the number of people in their family, the number of children in college at the same time, and special financial circumstances. When students apply for need-based financial assistance, they are considered for all types of assistance — grants, federal student loans and part-time employment.
The university strives to make attendance a financial reality for qualified students, even when financial need is great. Information about application procedures may be obtained from Student Financial Services (https://sfs.wustl.edu).
Veterans. If applicants are seeking benefits from the Veterans Administration, they should contact the Office of the University Registrar at http://registrar.wustl.edu.
Many scholarship funds, which are administered by Washington University, are provided by generous donors to assist the university in supporting financially needy and deserving students. These scholarships are included in financial assistance awards. In addition, merit scholarship funds are available to undergraduates in any school. For scholarship information, please visit the Admissions website at: http://admissions.wustl.edu/scholarships-financial-aid.
Army ROTC Scholarships
High school seniors may compete for four-year Army Reserve Officers' Training Corps (ROTC) scholarships. Current students may compete for three- and two-year scholarships. These scholarships are awarded based on merit. Army ROTC scholarships provide the full amount of tuition and mandatory fees for undergraduate study at Washington University. Army ROTC scholarships also include support for textbook purchases and a monthly allowance during the period the student is in school on scholarship status. Some students who receive Army ROTC scholarships also receive stipends from the university for room and board. The source of the student's stipend will be the university; federal or state government; or other scholarships, depending on the student's eligibility for assistance. For more information, write the Military Science Department, Washington University in St. Louis, 700 Rosedale Ave., Suite 1120, St. Louis, MO 63112, or call (314) 935-5521, or visit the Washington University Army ROTC website at http://rotc.wustl.edu. The Four-Year Scholarship application may be submitted through the Army ROTC National Headquarters website, http://goarmy.com/rotc.
Air Force ROTC Scholarships
High school seniors and current students may compete for two-, three- or four-year AFROTC scholarships, which cover up to full tuition at Washington University, plus a stipend and allowance for books. In College Scholarship Program (ICSP) requirements vary year to year and require at least one semester of AFROTC participation prior to application. Extensive information and the electronic application portal can be found at http://afrotc.com. Informational interviews are required of qualified applicants.
Different types of Air Force ROTC merit-based scholarships are available to students studying at Washington University. However, a scholarship is not required to join ROTC or to successfully earn a commission. For scholarship details, contact AFROTC, Gateway Detachment 207 at (314) 977-8332 or firstname.lastname@example.org.
Corporation Awards to Children of Employees
A number of companies have scholarship programs open to children of their employees. Inquiries about such plans should be made through their parents' employer(s).
Washington University participates in the federal student and parent loan programs. These loans provide reasonable interest rates and long-term repayment schedules.
Partners in Education with Parents (PEP)
Partners in Education with Parents (PEP) is an innovative multiple-option program financed and operated by Washington University to help parents pay university charges — tuition, student activity fee, room and board.
PEP continues Washington University's commitment to a partnership with the families of our students. This partnership includes a variety of choices to make parents' contributions as affordable as possible. Parents may choose the Multiyear Option, Prepayment Option, Combination Option or Annual Option.
The PEP Multiyear Option allows families to borrow one initial amount at the start of the freshman year to cover all, or part of, all four years of tuition, student activity fee, room and board charges. This option freezes the charges covered by PEP at the freshman-year rate, based on the percentage of costs covered by the PEP (participation rate). Families can benefit from the competitive, fixed interest rate and take up to 10 years to repay. There is no penalty for prepayment.
The PEP program also offers the choice to prepay, without borrowing from Washington University, all or part of the tuition, student activity fee, room and board charges for all four undergraduate years at the freshman-year rate. This option, the Prepayment Option, assures families that the prepaid portion of college expenses is covered and will not be subject to later increases in university costs.
Students can also choose the Combination Option, which allows their family to prepay a portion of the charges and borrow the rest from Washington University. This combination works well for parents who may have saved for a portion or most of their student's college expenses and who want to take advantage of the benefit of increasing their participation rate by using PEP to finance the remaining charges.
If the family prefers to borrow for college costs one year at a time, then the PEP Annual Option might be their best choice. Each year they can borrow an amount up to or equal to that year's tuition, student activity fee, room and board charges and take up to 10 years to repay. There is no penalty for prepayment and they can benefit from the competitive fixed interest rate.
Financing under the Multiyear, Combination or Annual Options requires no security or collateral from participants. A prospective participant must have a good credit rating and provide evidence of being able to meet the required monthly payments to be approved for a loan.
More information about Partners in Education with Parents is available from Student Financial Services, Washington University in St. Louis, Campus Box 1041, One Brookings Drive, St. Louis, MO 63130-4899; (314) 935-4139 or (800) 468-0569, fax (314) 935-4037; e-mail: email@example.com; or visit the website at https://sfs.wustl.edu/newlyadmitted/Pages/PEP.aspx.
Installment Payment Plan (Monthly Payment Plan)
Installment Payment Plan, the monthly payment plan administered by Higher One, provides for the payment of total annual university charges — tuition, fees and room and board — in nine or 10 monthly installments. Information about this plan is provided to all admitted students or may be obtained directly from Student Financial Services. For details, visit https://sfs.wustl.edu/newlyadmitted/Pages/TuitionPay.aspx.
If students apply for financial assistance, they are considered for the Federal Work-Study program (FWS). FWS employees work an average of 10 to 12 hours a week on campus and typically earn $2,500 over the course of the academic year.