Invest in Success (WSUIS) FAQ
What is the purpose of the Invest in Success (WSUIS) Program?
WSUIS exists to support low-income students in persistence toward graduation by providing holistic advising, financial literacy tools and financial support.
What are the eligibility requirements for WSUIS?
Eligibility requirements include: low income (TANF eligibility or income at or below 200 percent of the federal poverty level and assets under $10,000), an undergraduate WSU student, Washington State residency, good academic standing, and a willingness to contribute earned income to a savings account.
What are the program Requirements?
Once enrolled in the program, there are certain requirements that all participants must complete. These include maintaining good academic standing, abiding by all student conduct policies, completing the FAFSA and all required documentation by institutional deadlines, completing the financial literacy component, contributing earned income to a savings account, meeting with WSUIS staff monthly, and completing other tasks as assigned by WSUIS staff for success at WSU.
How often will WSUIS be enrolling new students?
Generally, WSUIS will have an enrollment period once a year. However, if attrition occurs, new students will be enrolled from previous applicants to fill those slots.
What are considered approved educational costs?
Approved educational costs are tuition and fees, textbooks, and other materials necessary or advisable for courses, such as computers.
If I don’t utilize all of my funds before completing my degree, what will happen?
WSUIS staff will work with the student and monitor their funds closely, especially in the student’s final year, to ensure the funds are utilized to the fullest extent. In the event that all funds are not used before graduation, a student may use them for further educational goals (grad school, nursing school, etc.).
Can I use the money for summer school? Study abroad?
Yes, once a participant has had their savings account opened for at least 6 months, and has completed all program requirements, those funds can be used toward summer session or study abroad, as long as the funds are still used for approved educational expenses.
How will these funds affect my financial aid?
This depends on your financial aid package and the amount of loans you have taken. In many instances, WSUIS funds may decrease the amount of loans offered. WSUIS funds should not affect grants.
Does the money I save have to be used for educational costs or just the matching funds?
Yes, all money saved in the student’s savings account must be used for educational costs. WSUIS agrees to match a student’s savings at a 400 percent interest rate upon successful completion of the program. One of the requirements of the program is the willingness to save one’s own earned income and be willing to contribute to educational costs.
Can the funds be used to pay off student loans?
No. All funds must be applied toward approved educational costs. However, by receiving the funds, a participant may be able to lessen their future loan debt.