Financial Aid


Wallace State now offers Direct Deposit for students to receive their Financial Aid and Tuition refunds.

Direct Deposit eliminates the chance that your check will get lost, misdirected, or delayed during delivery, or misplaced once you receive it. You will not need to physically visit a bank to make a deposit.

There are no fees from Wallace State for using Direct Deposit.

Financial Aid TV


Signing up is EASY! Enroll TODAY.

  1. Login to your mywallacestate account
  2. Click the Student Tab
  3. Click Student Services
  4. Choose Make A Payment, Deposit, and Payment Plan
  5. Choose Electronic Refunds

**Attention: eRefunds must be paid directly to the student. The account will be deleted if the checking/savings account does not have the student as the account holder. Payments made by credit card will be refunded to the credit cards used for payment.


Log into your account to view your Admissions and Financial Aid Requirements


FAFSA TAX DATA 2023-2024 School Year  
Fall 2024 2022 Federal Tax Return Transcipt
Spring 2025 2022 Federal Tax Return Transcipt
Summer 2025 2022 Federal Tax Return Transcipt
Fall 2023 2021 Federal Tax Return Transcipt
Spring 2024 2021 Federal Tax Return Transcipt
Summer 2024 2021 Federal Tax Return Transcipt


"Am I Dependent or Independent?"

1. Apply for Federal Financial Aid by going to (free application):  

  • Apply for your FSA ID at .
  • Your FSA ID is your electronic signature for the FAFSA, renewal FAFSA, Entrance Counseling and Master Promissory Note for Loans. It is also used to access your online financial aid history, student aid report (SAR) and make corrections to your FAFSA. Your FSA ID is your electronic signature; keep it in a safe place. Parents of dependent students must also have their own FSA ID to sign the FAFSA and PLUS loan Promissory Note electronically. For Non-Citizen parents,  please follow these steps.
  • Apply for the Free Application for Federal Student Aid (FAFSA). Click on the orange “Start Here” button. Follow the prompts in the right hand column of the site through the completion and submission of the application. Wallace State Community College’s School Code is 007871.
  • For fastest processing time, students should complete the application online and submit an electronic signature using their PIN. It is possible to interrupt an application session by saving the application and returning later using the information provided on the site.

2. Complete Verification Process (if required):  

  • Applicants selected by the Federal Central Processing System for verification by the school must provide requested documentation within 15 days of request and prior to award offers.
  • Visit your myWallaceState 
    • Select Financial Aid.
    • Click "My Required Documents".  
    • Select the appropriate school year.
    • Click on each form and follow the provided instructions for electronic submission. You will be directed to a website that says Dynamic Forms.  This requires the creation of a Login and Password for first-time users. Dependent Students' parents will also require a login creation. Dynamic Forms Account Creation Information.
  • Failure to provide all documents requested in a timely manner will delay your award offer and financial aid payments.
  • ‘Terms and Conditions’ does not have an electronic form requiring submission. Please follow the instructions provided to satisfy. If you have previously authorized or declined the ‘Authorization needed to pay Non-Institutional Charges’, it will be satisfied throughout your remaining time as a student at Wallace State Community College. Should you wish to change your previously provided answer, you will need to contact the Financial Aid Office.

If you are selected for Verification and a Tax Return Transcript is required, you will need to order one from the IRS. You may visit the IRS Website Here. It takes 7 - 10 days to receive this document.

The official form of communication at Wallace State Community College is your admissions office email account.  Please check your email account regularly.

3. Complete Direct Student Loan Steps (if applicable):  

  • Accept loan offer online.  Continue to to complete Stafford Loan Entrance Counseling and a Master Promissory Note.
  • Loans require student enrollment of at least 6 semester hours at Wallace State Community College for disbursement. Loans are paid out equally over expected terms of enrollment for the academic year. Confirmed class attendance is required for loan disbursements.  

4. Complete PLUS Loans for Parents (if applicable):  

  • Go to Wallace State’s Financial Aid web page to view PLUS loan information. Complete the PLUS loan application and submit it to the office.
  • Go to to complete the PLUS Master Promissory Note.
  • PLUS loans require an acceptable credit history and can be disbursed to the student per parent authorization.  The student must have a FAFSA on file prior to a PLUS application.  

5. Apply for Federal Work Study Program (if interested):  

  • Submit work study application to the work study supervisor in the Student Financial Services Office.  You can obtain an application in the office or online at 

Download Work Study Application 

The supervisor will contact eligible students for a job placement.  

6. Apply Aid to your Student Account:  

  • Register for courses each semester during regular registration.
  • Get books during the book charge period.
  • Attend every class and/or complete all required online course assignments throughout the semester.
  • Authorized aid will retain your course schedule until the Business Office posts funds to student accounts, paying charges and issuing balance funds to documented attending students at the end of the third week of the term.  

7. Get your Refund:  

  • Student must check the semester schedule to see when disbursement for Financial Aid Balance Checks. Balance checks are mailed the day after the stated disbursement day. You may also check the Wallace State Calendar.  Wallace State now offers eRefunds by Direct Deposit. Visit your myWallaceState account and apply through the "Payment Processing" link. 

8. Get Books for Class:  

  • You may use the on-campus bookstore charge procedures to apply books and supplies to your financial aid account.  Details of the book charge procedures are available in the course schedule.

9. Class Attendance:  

  • Financial aid disbursements require documented attendance from each course instructor.
  • Be sure to review the course syllabus and complete attendance and/or participation requirements for each course during the first week of the semester to ensure timely aid disbursements.
  • Financial aid awards may be reduced for non-attendance.

LION CENTRAL (Enrollment Services)   256.352.8182