Applying for Financial Aid

Step 3: Award Notice

Once your application is complete, you will receive an Award Notice with instructions to receive grants and/or scholarships and apply for additional financial aid in the form of loans.  The notice will direct you to Bearcat Web where you can view all of your financial assistance eligibility (scholarships, grants, loans).

 

Federal Stafford Loans will be offered to you automatically. There may also be some documents that you must complete and /or sign and return to the Financial Aid Office.  They will be listed on your "Student Requirements" and may be accessed by clicking the link.  No financial aid (including scholarships or grants) will be disbursed to a student's account until all requested documents are received (complete) and and have been reviewed by our office. 

 

Once awarded, you must accept or decline your financial aid awards.  Scholarships and grants are automatically accepted.  Anytime you accept or decline awards, check your Student Requirements.  Requirements sometimes change depending on your awards.

 

Certification of your Federal Stafford Loan eligibility will be electronically transmitted to the lender by the Office of Financial Aid a bout one week after you accept your loans online and complete your Loan Entrance Counseling.  The lender will notify you of your loan eligibility, the amount of the loan, what fees will be deducted from the loan proceeds, and when your loan will be disbursed to you. Usually, Stafford Loans are disbursed in two equal payments, at the beginning of each semester. You will receive this information in the form of a Disclosure Statement. You should keep this important document for your records.

 

Just before classes begin, your lender will electronically transmit your loan funds to the University.  The loan amounts (the net proceeds after the fees have been deducted) will be entered into the Lander University computer system, and will be deducted from your fees.  If there is a credit after all financial aid is applied to fees, you may be eligible to receive a refund check.