Accepting your awards
Financial aid awards must be accepted or declined in Academica.
New first-year undergraduates will receive one financial aid offer letter in the mail, and other students will receive an email notice to review their offers in the Financial Aid Portal in Academica.
How to accept your award
Login to the Financial Aid Portal in Academica to accept your awards
|Accepting your awards|
Scholarships and grants
- Scholarships are awarded based on many factors, including academic achievement, ability or financial need.
- Grants are awarded based on financial need and require no repayment. A TEACH Grant may become a loan if your service requirements are not met.
|Scholarship and grant awards - What to do now|
Tuition pledge programs
The tuition pledge programs fill the gap between your tuition/standard fees, and other scholarships or grants. Programs include Wayne Access, Heart of Detroit, and Born to Be a Warrior.
|Tuition pledge programs - Next steps|
A work-study award is an opportunity to earn financial aid through employment. Funds are paid in a pay check.
|Federal work-study awards - What to do now|
Federal Direct Loans
Keep in mind that loans are debts that must be repaid. If you want a loan, you should accept a subsidized Federal Direct Loans before you consider the more expensive unsubsidized loan. Keep in mind:
- You will need to register at least half-time (6 undergraduate credit hours).
- Repayment begins 6 months after you leave school or drop below half-time enrollment.
- Interest rates and loan fees
- Subsidized Direct Loan - A need-based loan for undergraduates. NO interest accrues while you are in school.
- Unsubsidized Direct Loan - Interest begins to accrue when the loan is disbursed.
|Federal Direct Subsidized/Unsubsidized Loans - What to do now|
When to accept your award
Federal work-study awards should be accepted within 30 days. If your award is not accepted within 30 days of an award offer, it may be canceled. Other loan awards may be accepted as long as you are currently enrolled at least half-time for the loan period.
Declining or reducing your awards
Keep in mind that if you decide to decline a grant or work-study award these funds may not be available to you if you change your mind later.
You can complete the Loan Revision Form if you want to change your response on a previously accepted or declined loan award offer.