Items to
Consider
- Read your award letter carefully to be sure you understand all
terms and conditions so you can decide if you want to accept any,
or all, of the aid offered.
- Look for instructions for your next steps. You may need to complete
additional paperwork such as loan applications.
- Determine if grants or scholarships are available for more than
one year. If so, what conditions apply? If not, are any options listed
for the following years?
- Remember, unless otherwise stated, this letter applies only to
the upcoming school year.
Report Changes
After filing the FAFSA, any changes in financial or family circumstances must be reported to the school. Additional outside sources of financial aid, parental unemployment or illness, or change in enrollment or family status could affect the award. Even name and address changes must be reported.
Accepting the Award
Once you've chosen your school, you should inform the school in writing how much of the award you plan to accept. If you don't respond by the date indicated, your award could be in jeopardy.
Sample Award Letter
Here's what you can expect to find on a typical financial aid award letter:
ABC UNIVERSITY
Office of Student Financial Aid
Financial Aid Award
Samantha A. Student
|
March
22, 2008 |
| 101 College Way |
Award Year: 2008-09 |
| Anytown, VA 20000 |
SSN: 123-45-6789 |
Dear Ms. Student:
After reviewing your FAFSA, we are pleased to provide you with the
following financial aid offer. This award is contingent
upon anticipated annual renewal of funding from federal,
state, and private sources. You may accept or decline
any of the awards offered.
| Projected Cost of Education |
$15,000 |
| Expected Family Contribution |
- $3,000 |
| Total Financial Need |
$12,000 |
| Type of Aid |
Fall |
Spring |
Total |
Accept |
Decline |
| Pell Grant |
$600 |
$600 |
$1,200 |
( ) |
( ) |
| FSEOG |
$800 |
$800 |
$1,600 |
( ) |
( ) |
| SLM Grant |
$1,000 |
$1,000 |
$2,000 |
( ) |
( ) |
| Work-Study |
$700 |
$700 |
$1,400 |
( ) |
( ) |
| Perkins Loan |
$600 |
$600 |
$1,200 |
( ) |
( ) |
| Stafford Loan |
$1,300 |
$1,300 |
$2,600 |
( ) |
( ) |
| |
|
|
|
|
|
| |
$5,000 |
$5,000 |
$10,000 |
|
|
| |
|
|
|
|
|
Please sign this letter and return it to the financial
aid office within two weeks. Read the enclosed information
on how to apply and receive the Federal Stafford Loan
offered in this letter. If you need additional funding to supplement
this offer, please refer to the attachment for information
on additional funding options.
Signature |
back to top
^
|
