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What is Authorized Financial Aid?

Authorized financial aid is funding that has the requirements completed and is scheduled for disbursement to your student account on the first day of classes each semester.

How does Authorized Financial Aid impact my student balance due?

Authorized financial aid has already been deducted from the total amount due on your bill. The Bursar's Office is aware of your authorized aid and gives you credit for these funds until they are officially paid at the start of classes. You only need to pay the total amount due.

Why don't I have any financial aid showing against my student balance due?

If there is no pending student aid (loans or grants) showing as authorized against your student balance due, there could be two reasons.

• Did you remember to file the FAFSA?
  • Log into your account at StudentAid.gov and make sure you have filed a FAFSA for William & Mary (school code 003705) for the correct financial aid year. For example, the 2023-2024 FAFSA will be filed for the school year that begins in fall 2023 and goes through summer 2024.
  • The FAFSA can take 5 to 10 business days to process and be available to our office. If you have filed your FAFSA recently, please be patient until we are able to access it.
  • If it has been more than 15 days since you filed your FAFSA and William & Mary offices were open to receive documents, please reach out to our office to research the issue.
• Did you submit all the requested documents needed to review, process and create financial aid?
  • This can be verification documents, documents needed for an appeal or your financial aid counselor waiting for other information from you. Review your requested documents in Banner Self-Service.

I cannot accept my financial aid/loans in Banner Self-Service.

Make sure that you answer the Title IV Authorization questions in Banner Self-Service

1. Log into Banner Self-Service at my.wm.edu.
2. Click on the "Resources/Additional Information" tab to answer the Title IV Authorization questions.
3. Accept (or decline) your loans through the "Accept Award Offer" tab.

Why is my Federal Direct Student Loan not showing against my student balance due?

There are a few reasons your loans may not yet be appearing as authorized financial aid in your student account.

• Did you accept your loans in Banner Self-Service?
• If yes, be sure you have completed your Entrance Counseling and signed your Master Promissory Note at StudentAid.gov.
• If you have done the first two steps in the last five to seven business days, the information may not have been linked through yet to our system. Loan certification can take time to create and request confirmation be sent back in a data transfer.

Why is my Federal Direct Parent PLUS Loan not showing against the student balance due?

There are a few reasons your Parent PLUS loan may not appear as authorized financial aid against the student balance due. Please review the loan steps for new and returning Parent PLUS loan borrowers.

• Be sure you have completed the Master Promissory Note at StudentAid.gov.
• Credit approval decisions are notified to the borrower by StudentAid.gov. If you were denied for the PLUS loan based on credit merit, you can either appeal or seek an endorser for your loan.
• If you have recently applied for the PLUS loan at StudentAid.gov and completed your Master Promissory Note, it can take five to seven business days for the loans to complete the certification process.

Beginning July 1, 2026, parents who are new borrowers will be eligible for a limited loan amount, as outlined in The One Big Beautiful Bill Act.

Why is my Federal Direct Graduate PLUS Loan not showing against the student balance due?

There are a few reasons your Graduate PLUS loan may not appear as authorized financial aid against the student balance due. Please review the loan steps for new and returning Graduate PLUS loan borrowers.

• If a Graduate PLUS loan was not part of your financial aid package, you must apply for a Graduate PLUS loan at StudentAid.gov.
• Be sure you have completed the PLUS loan Master Promissory Note at StudentAid.gov. Please note that if you have an unsubsidized loan, you will sign two different Master Promissory Notes.
• Credit Approval decisions are notified to the borrower by StudentAid.gov. If you were denied for the PLUS loan based on credit merit, you can either appeal or seek an endorser for your loan.
• If you have recently applied for the PLUS loan at StudentAid.gov and completed your Master Promissory Note, it can take five to seven business days for the loans to complete the certification process.

Graduate students who become new borrowers on or after July 1, 2026, will not be eligible for Graduate PLUS loans under the legislation known as The One Big Beautiful Bill Act.

How can I pay the balance on my student account after all authorized financial aid has been applied?

William & Mary's Tuition Payment Plan is available to any student with at least $100 in charges on their student account. The plan is available by the semester, and it will automatically divide the balance due into four installment payments.

Please reach out to Student Accounts with additional questions.