FAFSA Awards Process

Once your financial aid application is processed, UAA will send you an email with instructions on how to access your financial aid award.

If you’re a new student, you’ll receive an award offer as early as December. If you’re a continuing student enrolled in classes, you will receive an award offer in May, once the spring semester ends.

 

Review Your Financial Aid Award

Your financial aid award offer will outline what types and amounts of financial aid funding you are eligible for during the academic year. Depending on what types of aid you are eligible for, you may need to take certain additional steps to receive the funds.

Grants & Scholarships

Many grants and scholarships, like the Pell Grant, are automatically accepted on your behalf, as it is assumed you will want them. These funds are free to eligible students and do not need to be repaid as long as you are enrolled in and continue to actively participate in required courses. If you stop attending class before the semester ends, you may end up having to return money. If you have special circumstances come up that prevent you from being able to attend class, contact the Office of Financial Aid as soon as possible.

Loans

If you are offered federal loans, you must accept (fully or partially) or decline them. First-time undergraduate and graduate borrowers must also complete some final steps before receiving the funds.

How to Accept (Full or Partial) or Decline Your Loan Award

  1. Go to UAOnline
  2. Click on the "Financial Aid" tab
  3. Select "UAA"
  4. Select "Award"
  5. Select "Award by Aid Year"
  6. Select the appropriate academic year
  7. Select the option you would like for accept award offers:
    • Accept the full award amount by selecting "Accept Full Amount of All Awards."
    • Choose "Decline" or "Accept" for each fund.
    • Accept a partial amount for all semesters included in your award decision screen by selecting "Accept" and entering the amount in the "Accept Partial Amount" field.
    • Contact the Office of Financial Aid if you want a different disbursement schedule than what is showing.

How to Reduce or Return a Previously Accepted Loan Award

If you need to reduce or return any portion of your academic year's previously disbursed federal student loan, fill out and submit the Revision Request form (see Financial Aid Forms) and/or contact the Office of Financial Aid.

Final Steps for First-time Borrowers

Undergraduate and Graduate/Professional Students
  1. Complete Entrance Loan Counseling: Students who have not previously received a loan under the Direct Loan Program are required to complete the online tutorial to ensure that they understand the responsibilities and obligations assumed when borrowing a loan. 
    • The entire counseling process must be completed in a single session. 
    • Most people complete counseling in 20-30 minutes. 
  2. Complete the Master Promissory Note (MPN): This is an official, legal document also known as a “loan agreement,”  in which the borrower agrees to terms, conditions, and repayment requirements for a federal student loan(s).  
    • Once completed, this MPN will be applied to subsequent Federal Student Loans borrowed in the next 10 years. Which means you only need to complete it once unless you borrow again 10 years later.
    • The entire MPN process must be completed in a single session.
    • Be prepared to provide contact information for two references.
    • Most people complete it in 20-30 minutes.
Parent PLUS Loan Borrowers

Parents of dependent students who elect to take out a federal loan on behalf of a UAA student have several steps to complete in the process.

  1. Complete the Parent PLUS Master Promissory Note (MPN): This is an official, legal document in which the borrower agrees to terms, conditions, and repayment requirements for a federal student loan(s).
    • Once completed, this MPN will be applied to subsequent Federal Student Loans borrowed in the next 10 years. Which means you only need to complete it once unless you borrow again 10 years later.
    • The entire MPN process must be completed in a single session.
    • Most people complete it in 20-30 minutes.
  2. Complete the PLUS Credit Counseling
  3. Complete a Parent PLUS Loan Request Form, available on the UAA Financial Aid Forms page: This is an authorization for UAA Office of Financial Aid to originate a Federal Direct Parent PLUS loan for a UAA student.

    • If the parent-applicant's credit score is approved by the federal processor, the funds will be applied to the student's UAA account and will be used to pay any outstanding tuition, housing or other qualified charges. This form also allows the parent to inform UAA how to disburse any remaining loan credit balance, resulting from the PLUS loan deposit.

    • If the parent-applicant's credit score is not approved, the dependent student may speak to a UAA Financial Aid Advisor about gaining additional loan eligibility in the current academic year. 

Frequently Asked Questions

Next Steps

Receiving Your AidGold circle with arrow

Find out more about when and how you will receive your financial aid.

Gold circle with arrowKeeping Your Aid

Once you've accepted your awards package, you will need to meet certain requirements to keep your awarded financial aid and eligibility for future financial aid. Find out more about your eligibility requirements and student responsibilities.