Respond to your Financial Aid Award Notice
When your Financial Aid Award Notice (FAAN) is ready, you will receive an email directing you to your student center, where you view your FAAN. There you can respond to your award offers electronically.
For each award offer listed on the FAAN, you must indicate one of three responses: accept, decline, or reduce. You may accept aid from one source and not another.
Automatically accepted aid
Some gift aid awards (money you do not have to repay, such as grants and scholarships) are already accepted for you. Other gift aid, such as fellowships or waivers, may be accepted or declined.
Work-study income offers an additional benefit, unlike regular student employment. Work-study earnings are considered financial aid and are not included as income when your financial need is determined for the coming year, improving your eligibility for financial aid.
The loan amount(s) offered on your FAAN is your maximum annual loan eligibility. Consider your needs carefully before deciding whether to accept the full amount, a reduced amount, or decline the offer completely. For instance, if you borrow the maximum Direct Loan amount during fall and spring semesters, you will not be eligible for a summer loan from that program. Keep in mind that you must accept any subsidized loan in full before you may accept an unsubsidized amount. If you accept a reduced loan amount and later realize you need to borrow more, you can usually request an additional loan in writing later in the school year, if you have remaining eligibility. Check out the loan comparison chart to better understand the different loan programs.
You will report the terms you plan to attend during the academic year. Your financial aid awards are calculated on the assumption that you will attend full time both fall and spring semesters. If you will not attend fall and/or spring semesters, please let us know so that your aid can be revised accordingly. You do not need to inform us now if you plan to enroll for less than a full-time credit load. We will read your enrollment automatically at the beginning of the semester and revise your aid at the end of the cancel/add period. Understand the consequences of your planned enrollment:
The legal disclaimer that details your responsibilities as an undergraduate student receiving financial aid
The legal disclaimer that details your responsibilities as a graduate/professional student receiving financial aid
Details what to expect upon submitting your FAAN
What can cause your awards to change? What should you do, if your awards change?
Explains how the University of Minnesota, the federal government, and the state of Minnesota work together to provide you with a financial aid package