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Understanding Your Award

After completing the application steps, please read the information below so that you understand when and how you are notified about your loan and/or Work-Study eligibility as well as what additional actions, if any, you may be required to take.

Understanding Your Award Letter

After reviewing and processing your application, we will send you an award notification by email. The letter will list the type of funding, the amount(s) you have been offered, and the quarters in which the funds will be available to you. Your award notification is based on full time enrollment in your program (part time for part time programs). You must notify Financial Aid if you change your course load, change the quarters in which you will enroll, or are no longer enrolled in a degree-granting program so that adjustments to your funding may occur.

Accepting Your Awards Online

Financial Aid requires that you either accept, decline, and/or reduce the amount of your award. You may accept, decline, and/or reduce your award in “My Financial Aid” in my.UChicago.edu.

You can Accept/Decline your total Federal Work-Study (FWS)  award online. However, if you would like to accept a reduced amount of your FWS award you may do so by indicating the amount of FWS you’d like for the year on the Financial Aid Change Request form. If you would like to convert your FWS eligibility to a Federal Direct PLUS (Grad PLUS) Loan, please decline the entire FWS award in my.UChicago.edu and include the amount in your request for additional GradPLUS Loan on the Financial Aid Change Request. The Financial Aid Change Request Form can then be uploaded to “Upload Application Materials” Under My Financial Aid at my.UChicago.edu. You may find the Financial Aid Change Request Form and more information here.

Students cannot accept their GradPLUS Loan eligibility in my.UChicago.edu. You may, however, decline your GradPLUS eligibility if you choose not to borrow this loan. Students who wish to apply for the GradPLUS loan must complete the Federal Direct PLUS Loan Application at studentloans.gov after receiving their financial aid award letter. New Grad PLUS loan borrowers must also complete the Federal Direct PLUS loan Master Promissory Note (MPN) and entrance counseling at studentloans.gov. Once we receive your completed and approved Federal Direct PLUS Application, we will accept the loan on your behalf.

You may accept/decline/reduce your Federal Direct Unsubsidized Stafford loan in my.UChicago.edu however once you have accepted, you can not go back and make changes. You will need to contact the Financial Aid office for further instructions.  

Your loan funds will not disburse to your account if you have not accepted your award(s) or completed the required documents listed on your award notification.

Federal Work-Study

The Federal Work-Study (FWS) program allows you to earn funds to use towards your educational expenses. If you have eligibility on your award notification it means that you may find a job either on- or off- campus that is paid with Federal Work-Study funds. What this means is that your pay is considered financial aid and not income, both for tax purposes as well as re-applying for FAFSA in subsequent years. For more information about the Federal Work-Study program visit us here.

Receipt of Additional Assistance

It is your responsibility to report any additional assistance (grants, tuition assistance, scholarships, outside sources, etc.) you will receive that aren’t listed on your award letter. You may report this assistance in my.UChicago.edu. We may need to adjust your financial aid award based on the aid reported

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