Accepting your awards
Financial aid awards must be accepted or declined in Academica.
New students will receive one award letter via the U.S. Postal Service.
Continuing and returning students will receive an email notice to review awards in Academica.
How to accept your award
Login to Academica at a.wayne.edu.
|Accepting your awards|
Scholarships and grants
Scholarships are awarded based on many factors, including academic achievement, ability or financial need.
Grants are warded 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|
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|
Student loan awards
Loans are debts that must be repaid. If you want a loan, you should accept a Federal Perkins Loan and subsidized Federal Direct Loans before you consider the more expensive unsubsidized loan.
Federal Perkins Loan
- Perkins Loans may be reduced or canceled if you are not enrolled full-time.
- Repayment begins 9 months after you leave school, or drop below half-time enrollment
- Interest rate - 5% fixed. No loan fees.
|Federal Perkins Loan - What to do now|
Federal Stafford Loans
- 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
- A need-based 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 Perkins Loans and 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
- If you decline a grant, work-study award or Federal Perkins Loan, you will not receive these funds if you change your mind later.
- If you accepted or declined a loan award offer and want to change your response, complete the loan revision form and submit it to the Office of Student Financial Aid.