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Financial Aid

The primary purpose of student financial assistance programs at Wallace Community College is to assist students with meeting the cost of their education.  While all students are encouraged to apply it is ultimately the responsibility of the student and his/her family to finance their education.  Financial assistance is meant to supplement the amount you and your family contribute, not replace it.  There are many sources of financial aid, including federal, state and local funds.  The main types of assistance available to students are grants, scholarships and work-study.  Wallace Community College does not participate in any federal student loan program.

How and When Do I Apply?

All students are encouraged to complete the Free Application for Federal Student Aid (FAFSA) at fafsa.gov.  Our school code is 001018 and should be placed in the first position of the school code section.  The FAFSA should be completed each year as soon after October 1 as possible. 

The completion of the FAFSA is only the first step in determining your eligibility for PELL grant. All students should immediately provide any and all documents requested from the Financial Aid Office.

How Can I Save Time When Completing My FAFSA?  

All applicants should utilize the IRS Data Retrieval process offered during the FAFSA completion.

  • This retrieval process is the best and easiest way to document the income needed for completion of the FAFSA.  
  • The IRS Data Retrieval tool takes you to the IRS website, where you’ll log in by providing your name and other information exactly as you provided it on your tax return. 
  • At the IRS site, you can preview your information to make sure it looks correct before agreeing to have it transferred to your FAFSA.  
  • When you return to the FAFSA, you’ll see that questions that are populated with tax information will be marked with “Transferred from the IRS.”  Don’t make any changes to those answers or you’ll invalidate the information you retrieved!

If you use the IRS Data Retrieval Tool and don’t change any of the retrieved information in your FAFSA, you should not need to provide tax transcripts to the Financial Aid Office if you’re selected for verification.  

What Next?

Once you have completed the FAFSA, the Financial Aid Office will notify you via mail when they have received your FAFSA results.  This correspondence will direct you to our website for a list of required documents you will need to submit before your financial aid can be processed.  The required documents may be accessed using your myWCC account.  The requested documents should be submitted as quickly as possible in order to expedite the award process.  Remember, the Financial Aid Office can’t make your award until you provide us with the requested documents. 

All financial aid (Pell Grant, scholarships, PACT, VA benefits, etc.) should be awarded and in place prior to you registering for any classes.