Accepting/Declining Awards

Accepting Your Award

If you are offered Federal Direct Stafford loans and you are a first time borrower, you will need to complete Entrance Counseling and sign a Master Promissory Note (e-MPN). Additional information on accepting the Federal Parent loan (PLUS) can be found at our Types of Aid page.

Other aid offered such as grants will disburse upon enrollment, generally no further action is necessary for the disbursement. If you want to accept your award as it is, there is no “acceptance” form for you to complete. Your aid will automatically disburse if you have met all other requirements. Refer to any To Do List notifications you may have received either in the mail or by email.

Declining or Reducing Work-Study

To decline a Federal Work-Study (FWS) award or to request a reduction of a FWS award, you must use the Change Notification Form to notify us. This form is downloadable from our CNF page. If you decline or reduce your FWS award, you may be eligible for an increase in your student and/or parent loan. If you would like us to re-evaluate your loan eligibility, check the box on the CNF.

Declining or Reducing a Loan or Work Study

To decline or request a reduction of a Direct Student Loan (subsidized or unsubsidized), a Federal Perkins loan, Federal Work Study, or Direct Parent loan (PLUS), you must use the Change Notification Form to notify us. This form is downloadable from our CNF page. If you do not decline or request a reduction, we will assume you want to keep the amount listed on your Award Offer.

Canceling a Disbursed Loan

Beginning with the date we notify you that Perkins Loan or Direct Loan funds have been credited to your student account, you have fourteen (14) days to exercise your right to cancel all or part of that disbursement. This must be done by notifying Customer Services in writing using the Request to Return Student Loan/Financial Aid Funds form available in their office. If funds were released to you in a refund check, you must return the funds you wish to have cancelled with your request. Even after your right to cancel expires, we generally will accept a return of loan funds if you return them to Customer Services within thirty (30) days of the date of disbursement