Understanding Your Financial Aid Notice
The following information will help prospective students learn more about their financial aid notice and the next steps in the financial aid process. If you have been notified that your award is ready, you should review it online through MyAccess.
After you have reviewed your award, learned more about the types of aid offered, and made a decision about what (and how much) you wish to utilize, you should review the next steps in the financial aid process.
Financial Aid Notice
Your financial aid notice is based on the information you have supplied and is tentative until all aid requirements are satisfied. Further, your notice is subject to adjustment due to changes in your circumstances, new information available to us, or modifications to federal laws or regulations governing student aid.
Review Your Options
When you review your financial aid notice in MyAccess, you should carefully consider each component offered. You should also consider how much, overall, of each aid type you will need. Please note, MyAccess is for information purposes only - accepting, declining or changing the award is done outside of MyAccess via the loan adjustment form.
You can compare your own expected expenses with the standard living expense estimates used to calculate your aid eligibility by using the Budget worksheet. While additional loans are only available in certain, limited circumstances, you may find that you actually wish to borrow less than you have been offered.
A Note Regarding Federal Loan Fees
The loan amounts specified in your award do not yet include loan fees the federal government charges on federal Unsubsidized Stafford and federal Grad PLUS loans at the time of loan disbursement. To the extent possible, these fees will be added to your loan totals and your budget when/if you accept your loans by completing the remaining steps in the application process.
Federal Work-Study Option
You will have the opportunity to request up to $4,700 in Federal Work-Study funding as you complete the next steps in the financial aid process. If awarded, Work-Study funds will reduce, dollar-for-dollar, the amount of offered loans in your award package. The decision to request (or not request) Work-Study funds in your first year has no bearing on the availability of Work-Study funds for subsequent years.
Checking for Outstanding Requirements and Staying in the Know
You can view outstanding financial aid requirements through MyAccess. You should continue to monitor your account for additional requirements, noting that it may take several business days for documents you submit to be reflected as completed.
You are also responsible for monitoring your online award, and any possible updates, through MyAccess. Please note that it may take several weeks for changes to be reviewed by the Office of Financial Aid and updates to be reflected.
Special Note for Dean's Tuition Grant Recipients
If you applied for need-based grant assistance, your award includes the tentative amount of Dean’s Tuition Grant for which you are eligible, if any. Unfortunately, only a small percentage of grant applicants are awarded grant assistance. If you have been awarded this type of assistance, remember to submit copies of your and your parents’ 2020 signed FEDERAL ONLY tax returns and W-2s, IRS non-filing letter or foreign tax documents with translation to the Office of Financial Aid within your Blue Loan Certification Request Application (available on June 1st. If you wish to decline this or any other pre-accepted type of aid within your award, please contact the Financial Aid Office.
You should note that tentative awards of Dean's Tuition Grants are typically based on financial information that includes income information from 2020. Significantly different information in 2021 (or a future year) may impact your award in following years.
A Note Regarding FAFSA Verification
If you were selected by the U.S. Department of Education for FAFSA verification (as indicated on the Student Aid Report you received after the Department of Education processed your FAFSA), we may be required to verify certain information reported on your FAFSA and will provide further instructions to you as necessary.
Keep Aware of Important Dates
You should review the Admitted Student Website for information related to deposit and tuition payment requirements. Pursuant to federal aid regulations, your Fall semester student loans will not disburse to your student account until the start of classes. Therefore, you must be prepared to pay your own living expenses without reliance on aid funds through orientation. (Expected financial aid will offset tuition charges, however, once all requirements have been satisfied.)
If Things Change, or if You Have Questions, Let Us Know
If you experience or become aware of material changes to the information you have supplied us in connection with your financial aid application, you must inform the Financial Aid Office in writing within 30 days. These changes may cause a re-evaluation of your award.
If you have any questions about your award, or about financial aid in general, please contact the Financial Aid Office at email@example.com (please be sure to add your GUID/Student ID# into your email communication).