Award Letter Requirements

The financial aid award letter lists the various types of aid for which a student qualifies, including student loans. With the exception of a private loan (which the student initiates by completing a loan application with their lender of choice), in order to begin the process of borrowing students loans at UDM, the student must accept the loans on the award letter, and then sign and return the UDM financial aid award letter to the Financial Aid Office. If the awards are not accepted and/or the award letter is not signed and returned, the pending loan offer(s) will be cancelled.

For first-time Stafford loan borrowers at UDM, students ARE REQUIRED to choose a lender for their Stafford loans. Beginning July 1, 2008, federal regulations will prohibit a school from choosing a Stafford loan lender on behalf of a new borrower. If a new borrower fails to choose a Stafford loan lender at the time they return their financial aid award letter, their Stafford loan process will be delayed. This is also true for new Parent PLUS loan and Grad PLUS loan borrowers.