Tentative Award Notification
Beginning in mid-March, estimated financial aid award notifications will be mailed to all accepted prospective students from whom Denison has received FAFSA information. We will continue to mail estimated financial aid award letters until May 1st, as FAFSAs are received. Final Award Notifications will be sent to deposited and/or enrolled students via their Denison email AND after all required financial aid documentation is received and processed. Revised award notifications are sent via email any time a student’s awards change. Applicants should carefully review their estimated award letter. Review Types of Aid for detailed information on each award listed on your Award Notification. It’s also important to read and understand the following Award Terms and Conditions.
Award Terms & Conditions
Financial aid recipients must understand and agree to these terms and conditions:
- All financial aid is awarded subject to acceptance or readmission to the University.
- Financial aid funds must be used solely for expenses related to attendance at Denison University.
- Financial Aid Awards are based on full-time enrollment (12 or more credit hours) and housing status. This is indicated on your award notification. Please notify the Office of Financial Aid if your enrollment or housing plans change. This could result in a revision of your Financial Aid Award.
- The University reserves the right to revise any portion of the Financial Aid Award if it is determined that the award is based on incorrect or misrepresented information on the FAFSA, through the verification process or if funding of federal/state/institutional programs change or for any other reason the office deems necessary.
- The Office of Financial Aid reserves the right on behalf of the University to revise and cancel an award at any time because of changes in financial or academic status.
- Financial need is re-evaluated each year, by FAFSA results. The FAFSA is required every academic year.
- Students who receive financial aid must maintain Satisfactory Academic progress (SAP) as defined by the Office of Financial Aid. Please see our Consumer Information for our SAP policy.
- Recipients of financial aid are to notify the Office of Financial Aid of any other scholarships, loans or employment benefits extended to them from sources outside of the University. An adjustment in your total financial aid may be made, if necessary.
- The total amount of aid that is received from all sources must not exceed the cost of attendance at Denison University. This includes tuition, certain fees, room and board, etc. If additional forms of aid are received at any time during the academic year, an adjustment to your financial aid award may be necessary. • If you withdraw from school during a term, your aid will be adjusted according to Denison’s Refund Policy. Students must officially withdraw by contacting the Dean of Students’ Office.
- For students borrowing loan funds from the Federal Stafford loan program or the Federal Perkins loan program for the first time, it
Verification is the process your school uses to “verify” that the data reported on your FAFSA is accurate. The Department of Education selects a portion of FAFSA filers to have their FAFSA information verified; and schools can select applications for verification also. The Office of Financial Aid is required to collect tax documentation and other required information to perform this function. Schools have the authority from the Department of Education to contact you for documentation that supports the information you reported. If corrections are necessary, our office will submit the FAFSA corrections electronically and the student will receive a new Student Aid Report (SAR) from the Department of Education.
Deposited/enrolled students selected for verification will be notified after May 1 about requirements needed.
Tax filers, both student and parents, are required to submit their federal tax data from the IRS. Non-Tax Filers must provide copies of employer provided W-2 forms, if applicable.
IRS tax data can be submitted in two ways:
- IRS tax data can be loaded directly into the FAFSA (www.fafsa.gov) using the IRS Data Retrieval Tool (DRT), OR
- The tax filer must submit an IRS Tax Transcript AND W-2 forms, if applicable. To obtain a tax return transcript, go to www.irs.gov/transcript.
Your financial aid award is an estimate and could change after the verification process is completed. Completing the paperwork requested in a timely manner will allow your family to plan financially for the upcoming academic year. You will receive a revised financial aid award letter if your aid changes due to this process.
Notification will be sent to the students informing them if their initial tentative awards are final or if they have been revised.
If your initial tentative awards are final:
- No changes were made to the initial FAFSA data in the verification process, OR
- Changes were made to the initial FAFSA data in the verification process, but the changes did not resulted in an adjusted financial aid award
If your initial tentative awards were adjusted:
- Awards are adjusted if the verification process results in changes that must be made to the initial FAFSA data that impact the eligibility for need based aid
Final Award notifications will include instructions for the following requirements to ensure that the Federal Direct student loans credit against the student charges:
- Accepting, reducing or declining the Federal Direct Loan(s) at self service link
- Signing the Electronic Master Promissory Note (eMPN) at www.studentloans.gov
- Completing the Federal Direct Loan Entrance Counseling at www.studentloans.gov
Federal Direct Loan disbursements will display as pending credits on Fall billing statements IF all requirements are complete prior to the end of June.
Work awards (Federal Work Study and/or Non-federal Work Study) do not credit against billable charges. Students who work on campus will be paid a bi-weekly paycheck for actual hours worked.
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