Accept/Decline Aid

How to Accept Awards

Grants and Scholarships
You don’t need to do anything special to accept federal or state grants or scholarships. We assume that you will want this money that you do not have to pay back.

Work-Study 
If you have been offered a federal work-study award, there will be a job fair during the first or second week of the semester. Watch for announcements on your MyVU account. You might be able to find employment at the job fair if you haven't found a position before then.  If you were not offered work-study in your original award letter and want to see if you qualify, please come to the student financial services windows to ask to see a student financial services counselor.

Federal Perkins Loan 
If you have been offered a federal Perkins loan, you can accept it by completing the promissory note online.  You will receive an email with the information to do this.

Federal Direct Subsidized or Unsubsidized Loan 
If you have been offered a federal direct subsidized or unsubsidized Stafford loan, please go to your MyVU account and accept them there. The option to accept or decline Stafford loans on your MyVU account for a new award year is not available until summer (usually June or July).  An email will be sent to you when this option is available.

Federal Direct Parent PLUS Loan 
For dependent students: Parents may be offered a Direct PLUS loan. To apply for this loan, a parent must fill out the Parent PLUS Loan Application on studentloans.gov. If the parent's credit is approved, the parent will also need to complete a PLUS Master Promissory Note. Interest rate set annually by Congress (2015-2016 interest rate = 6.84%).  Credit check is conducted by the Department of Education.  If a parent’s application is denied by the lender, the student is eligible for an additional unsubsidized Direct Stafford loan of up to $4,000 per year.  To apply for this additional federal direct unsubsidized Stafford loan, the student should go to their MyVU.  There follow the directions for accepting Stafford loans, only this time the student will accept the "Additional Unsub - PLUS Denial."

 

How to Decline Awards 

Work-Study, Federal Perkins Loan, or Federal Nursing Student Loan 
If you have been offered federal work-study or a federal Perkins loan, you may decline these awards by filling out the Decline Awards form and turning it into the student financial services office.

Federal Direct Subsidized or Unsubsidized Loan 
If you have been offered a federal direct subsidized or unsubsidized Stafford loan and have not already accepted them, please go to your MyVU account and decline them there.  The option to accept or decline Stafford loans on your MyVU account for a new award year is not available until summer, and an email will be sent to you when this option is available.  If you have already accepted your loans and have changed your mind or don't have the option to decline loans on your MyVU, you can decline the loans by filling out the Loan Change form and turning it into the student financial services office.

Federal Direct Parent PLUS Loan
If your parents have been offered a federal direct Parent PLUS loan, you can decline this award by filling out the Loan Change form and turning it into the student financial services office.

 

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