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 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.   First-time borrowers must complete entrance counseling and a master promissory note at https://studentloans.gov.  The loan funds for first-time borrowers will not be here until 30 days into the semester they are first here.
  • 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 https://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 (2018-2019 interest rate = 7.60%).  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
    If you have been offered federal work-study, you may decline this offer by filling out the Aid Change Request 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 July, 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 theAid Change Request 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 Aid Change Request form and turning it into the student financial services office.

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