For more information, see our step-by-step guide to accepting your award.
Your award letter lists all the financial aid you’re eligible to receive. You decide if, and how much, student loan debt you want to take on.
Anatomy of an award letter
If you look at your award letter and think it is confusing, don’t worry – it can be confusing at first. Let’s take a tour and get to know it.
Your award letter lets you take action and decide how much debt you are going to take. Make sure to only take what you need now and what you can pay back later. What amount will put you in your sweet spot? If you’re not sure, read how to plan loan amounts.
These loan amounts are the amounts you qualify for… but not necessarily the amount you should take!
Adjust loans here! When you have decided on the amount you want to borrow, write it in the box and click accept. The amount you enter will be divided by the number of terms on your award letter.
These are loans.
- Subsidized Loan: the government pays the interest on subsidized loans while you are in school. You still have to pay this back, so only take the loan if you need it!
- Unsubsidized Loan: you pay the interest on unsubsidized loans, so they are more expensive than subsidized loans. Only take this loan if you absolutely, positively can’t live without it!