How to Accept, Decline, or Reduce an Award
After you receive your award notice and have become familiar with your financial aid awards and “Terms and Conditions,” what should you do next? If you are awarded “Gift Aid” (any grant or scholarship money – which does not need to be repaid, i.e., HOPE, Pell, etc.), these funds do not require acceptance on your part. If you have been awarded student loans, you will need to accept, decline or reduce the amount of loan you wish to receive or not receive.
- Go to your Owl Express Account
- Click on the Financial Aid tab
- Click on the appropriate award year, (i.e., Fall 2021, Spring 2022 and Summer 2022
are part of the 21-22 award year)
- If you have not reviewed your “Terms and Conditions,” you will need to read this first and then submit that you understand the information provided.
- Once “Terms and Conditions” has been completed, you may then accept, decline or reduce your loans that have been awarded.
- Click on “Awards Offer“
- You will see your loans (if applicable)
- If awarded Subsidized Stafford or Unsubsidized Stafford – you will see the amounts and “Select Decision” drop box
- Note Select Decision dropbox
- You can select “Accept” (which will accept the amount awarded)
- You can select “Decline” (which will decline the entire loan)
- If you wish to accept a partial amount, you will see under each loan (if applicable) – Accept Partial box. You may enter the amount in this box if you wish to accept only a part of the loan awarded.
- IMPORTANT – if you accept a partial amount, remember, the amount accepted will split into two equal amounts – one for Fall and another for Spring.
- Then click Submit
All new undergraduates who have accepted all or a partial amount of student loans must complete a Master Promissory Note (MPN) and an Entrance Loan Counseling. Both of these should be completed by visiting www.studentloans.gov. The MPN will remain active for 10 years from the day of completion if a student continually receives student loans and there is no break of 12 months or more.