Award Information - The Award Letter
The award letter, also known as your Financial Aid Package, is a conditional offer of the amount of funding you are eligible to receive. The amount of funding offered on the award letter sent is based on federal eligibility requirements, availability of funds, and in most cases, full-time enrollment.
There are additional steps required for certain types of funding and you should be prepared to complete additional steps. Please read the award letter you receive for the additional steps required.
Beginning with the 2013-2014 academic year, the Federal Direct Unsubsidized Loan will not be offered on the award letter. Additional steps will be required for consideration of this loan. This change was made to help students make more informed borrowing decisions, thereby minimizing future barriers to attaining educational and financial goals. The Unsubsidized Stafford Loan Request form may be found on our forms pages.
Revisions to your offer can occur during the award year if there are enrollment changes, additional educational funding is received or Satisfactory Academic Progress is not maintained. For the requirements of each fund that a student may be eligible for, see Types of Aid Available.
If you receive funding from outside sources, such as scholarships, you are required to notify Financial Aid.
Loan Information - Accepting Your Loans
Federal Direct Stafford Loan (Subsidized and Unsubsidized):
If you have been offered a Federal Direct Stafford Subsidized and/or Unsubsidized Loan, you have the following options:
- accept the full amount for ALL loans
- accept the full amount offered for an individual loan
- accept an offered loan, but request a lower amount
- decline the full amount of a loan
- decide later
Before accepting the loan(s), carefully consider your need to borrow and how much debt you may have already incurred.
Accepting or declining a loan is done through myLane from the myFinances tab. Under "Financial Aid Awards", select "Accept Loan Offer by Aid Year". You may then:
- Accept the full amount of all loans offered by clicking on Accept Full Amount All Awards.
- Accept the full amount of an individual loan by clicking on Award Decision. From the pull-down list choose the correct answer, then click Submit Decision.
- Accept a loan, but request a lower amount by clicking on Award Decision from the pull-down list, choose accept, enter the amount you want to accept for the school year in the Accept Partial Amount box and then Submit Decision.
- Decline the full amount of a loan by clicking on decline from the pull-down list to the right of the amount offered for each loan, and Submit Decision.
- Decide later by taking no action until you are ready to choose one of the above options.
Parent Plus Loan
The Parent PLUS loan is accepted by the parent completing the PLUS Request process. Once accepted, the parent will need to complete the Master Promissory Note requirement on the web. If the parent is unable to complete the MPN on the web, they may make a written request to financial aid asking for a paper version of the MPN to be sent.
If you need assistance, please contact Financial Aid at (541) 463-3400