General FAQ’s
What is IWU’s federal school code?
Our school code is 001696.
Do I need to reapply for financial aid each year?
Yes. Federal regulations require that students reapply for federal financial aid each year. The primary reason for this is to ensure that an individual’s eligibility for assistance is based on the most up-to-date income, asset and family information.
What forms are required for financial aid consideration?
FAFSA (Free Application For Federal Student Aid)
Illinois Wesleyan Financial Aid Application OR
CSS Profile
When do I need to have my financial aid forms submitted?
Our preferential filing date for all students is March 1st for IWU funds. With the limited resources from the State of Illinois, we would encourage Illinois applicants to complete their FAFSA before February 1.
Can I still apply for financial aid after these dates?
Yes. Even a late FAFSA applicant can still qualify for certain financial aid programs.
Do you prefer that I complete the FAFSA once my parent’s have completed their tax returns?
We would suggest you complete the FAFSA with estimated figures to meet all deadlines. If you provided estimated figures you can make the necessary corrections when the tax returns are finalized.
Will Financial Aid require any other forms besides the application and FAFSA?
Sometimes. If you are selected for verification by the Department of Education you will be required to submit a signed copy of your federal tax return with all schedules and W-2s as well as a verification form. We are also required to obtain a signed copy of your parent(s)' federal tax return along with all W-2's as well as any applicable schedules if any of their Adjusted Gross Income includes income from a Business, S Corporation, Rental Real Estate, or Farm Income.
When can I expect to receive an award proposal?
As long as the Financial Aid Office has received all requested paperwork and forms, new students can typically expect an award proposal within about 2 weeks after March 1. Returning student award proposals are mailed starting in June even though the preferential deadline is in March. Our preferential deadline is set according to Illinois state financial program deadlines so students can qualify for these programs if eligible.
What is College Illinois?
College Illinois is a 529 pre-paid tuition program started by the state of Illinois. The program is open to all Illinois residents and non-Illinois residents purchasing for Illinois-resident beneficiaries. More information can be found at the College Illinois website.
Who do I contact regarding College Illinois or any other 529, pre-paid tuition plan?
Illinois Wesleyan's Business Office handles all pre-paid tuition programs. You can contact the Assistant Controller at (309) 556-3022 or busnoff@iwu.edu.
Where should I direct questions regarding my statement of account?
Questions regarding your statement of account must be directed to the Business Office. The Financial Aid Office does not have access to this information. The Business Office can be contacted at (309) 556-3022 or busnoff@iwu.edu.
Where do I report a change of permanent address?
Information regarding a change to your permanent address must be reported to the Registrar's Office. As they require written notification, this may be submitted to IWU Registrar, P.O. Box 2900, Bloomington, IL 61702 or via e-mail to iwureg@iwu.edu.
Updated 1-8-2013