Whitney Benefits does not require you to fill out the FAFSA to apply, but it is a requirement for many other scholarship
applications and other financial aid for college.
What happens after my loan application is submitted?
Once your application and all required documents are submitted, Whitney staff will review them and will mail you a
letter verifying that your loan has been approved. Once you receive this letter, please call Whitney Benefits and
schedule a Loan Closing. If you submit your application and required documents and Whitney Staff finds an error we
will contact you at the number and/or email you provide on the application form
Students and their co-borrowers must attend the Loan
Closing. At the Loan Closing, Whitney staff will review the
loan documents before the student and their co-borrowers
sign. All documents will be notarized. The loan closing takes
approximately 20 minutes.
Whitney will issue the first disbursement to the student at the
loan closing. All disbursements issued by Whitney shall be
payable only to the student. To receive all future
disbursements, the student must first provide Whitney with
an official transcript or grade report verifying that the student
has earned at least 12 credit hours and maintained a 2.25
grade point average in the preceding term.
When are the funding deadlines for students with current loans?
The deadline for Fall funding is October 1st and for Spring funding is March 1st.
How much can students borrow in total and per semester for undergraduate or vocational studies? What
information do you use to see how much each student will qualify for?
Up to $24,000 for undergraduate or vocational school
studies. Traditional students may borrow, each semester
during their undergraduate education, the following amount:
One half (1/2) of the annual limit established by the
Whitney Trustees. For schools on quarter systems, the
annual limit shall be one-third (1/3) instead of 1/2. The
annual limit is $6,000.
Vocational students may borrow up to $24,000 over the
length of their program. These students will not be held
to the annual limit.
To qualify, students and the student's parents must have
an adjusted gross income from the previous year of
How much can students borrow for graduate or professional studies?
Graduate students can borrow a credit limit of $40,000.
What is the lifetime limit amount of student loans a student can borrow from Whitney Benefits?
Students can borrow a lifetime limit of $24,000 to attend undergraduate and/or vocational school and a lifetime limit of
$40,000 if they also attend graduate school.
When will I be expected to start repayment on my loan?
Repayments begin on the earliest of the following dates:
Six months after the anticipated or actual graduation
Immediately if the student leaves school.
How much interest will I pay on my loan?
Whitney Benefits Student Loans are interest free. (However,
interest may be charged if the loan is in default.)
How much money does an interest-free student loan save
Please refer to the calculations at this link.
How often will I receive the Present value discount option?
Present Value Discounts are available at the start of repayment and every anniversary date thereafter.
Can Whitney Benefits send and receive electronic payments?
Whitney Benefits does now have the ability to electronically disburse funds and receive electronic payments. Please
download the Electronic Credit Authorization form to receive electronic disbursements or the Electronic Debit
Authorization to make electronic payments. Please fill out and return the form to Whitney to take advantage of these
Why does Whitney Benefits provide student loans?
Whitney Benefits, Inc. was created under the Last Will and Testament of Mr. Edward A. Whitney, a Sheridan County
resident, who passed away in 1917. Mr. Whitney directed the corporation to create a student loan program that would
help provide men and women with modest financial assistance from the corporation's income to pursue academic and
Since inception of the program in 1928, the corporation has loaned 6,127 students approximately $49,620,415. For
the fiscal year that ended June 30, 2022, Whitney approved interest free loans totaling $1,726,047 to 92 students; 66
students received loans for the first time and 26 students had received loans previously. As of June 30, 2022, Whitney
has $10,850,601 in student loan monies loaned and / or committed to Sheridan and Johnson County students.
Is there other financial aid available?
Northern Wyoming Community College District has many financial aid opportunities available. If you are not attending
NWCCD, check with your college or university's financial aid office.
Return to Student Loans
Student Loan Frequently Asked Questions
An Educational Foundation by the late Mr. Edward A. Whitney
© Whitney Benefits, Inc. All Rights Reserved