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Financial Aid > How do I Receive / Accept Aid? > Handling Awards Notifications

Handling Awards Notifications

Accepting, Reducing, Declining Aid

All the hard work of filling out applications and meeting deadlines has an up side: getting a notice that you have received a financial award or loan approval. To accept your aid, you will need to use your student login. If you have not received a login, contact your Admissions Representative or your advisor.

What to do with grants or scholarships?

The Financial Aid office will automatically accept them for you, since you do not have to pay these back. You do not need to do anything, unless you wish to decline a grant or scholarship.

What to do with loans?

1. Decide if you want the loan. Once you have been awarded a loan, you have the option to accept, reduce or decline it. You won't receive any loan money until you make a selection in Self-Service Banner (SSB). We have downloadable PDF instructions [1]to help you decide.

2. After reading the instructions, go to Self service Banner (SSB) [2] (login required) to submit your selection of loans.

3. Once you submit your decision, you have completed the process.  Loans will disburse to your student account during the semester according to the disbursement schedule on your loan disclosure statement that you received from the federal government.

4. If you change your mind after accepting your loan. Once you submit your decision through SSB, you will not be able to use SSB to make changes. If you want to change your decision about a loan or to request an increase or decrease to a loan, you must:

  • Contact your financial aid counselor [3]
  • Complete the Loan Request Form [4] and include a negative amount, which is the amount by which you wish to reduce your loan
  • Be sure to specify the exact amount of the total loan that you would like for the term(s) requested
  • Remember to include the origination fee when figuring your request

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Source URL: http://www.davenport.edu/financial-aid/how-do-i-receive-accept-aid/accepting-reducing-or-cancelling

Links:
[1] http://www.davenport.edu/system/files/Accepting%20Loans%20Web%20Instructions.pdf
[2] https://lum4prod.davenport.edu/render.UserLayoutRootNode.uP?uP_tparam=utf&utf=%2fcp%2fip%2flogin%3fsys%3dsctssb%26url%3dhttps://bnprodssb2.davenport.edu/dbServer_prod/bwrkrhst.P_DispAwdAidYear
[3] http://www.davenport.edu/financial-aid/about-department/location
[4] http://webber3.davenport.edu/finaid/