Financial Aid
How To Accept Awards

If you are a freshman attending college for the first time, or a transfer student that has never attended Ferris State before, once we have received your completed FAFSA and you are admitted to Ferris State University, we are able to continue to the next steps of preparing an award notice for you.

The Financial Aid Office generally begins sending out award notices to freshmen and newly admitted transfer students for the following fall semester in early to mid March. The first award notice each academic year is sent via US mail to the student’s permanent address. Subsequent award notices will be sent electronically to the student’s MyFSU email address.

The award notice will include each student’s budget (see cost of attendance), need formula (see how aid is determined) and the type and amount of each fund being offered to the student.

It is recommended that the student accept or reject each type of aid within 21 days of receiving the offer to prevent cancellation of the aid offer. If the student is unsure as to whether or not to accept or reject a particular type of aid, it is recommended that he or she accept it. If he or she later determines that he does not want the aid, then it can be declined without penalty right up until the time of disbursement, which is during the second week of the semester. Failure to accept an offered fund in a timely manner may result in the loss of that fund, particularly for some forms of need-based aid.

If the student knows that another form of aid is coming in at a later date, such as an outside scholarship, it is recommended that the student accept the initial award within 21 days to prevent any loss of aid. The Financial Aid Office will automatically send revised award notices to the student via the MyFSU email system, each time there is a revision to the award. The student may make changes to the revised award in light of the new information at that time.

Once you have received your award notice, you must log into MyFSU, select the Academics and Services tab, locate the Financial Aid Awards heading and click on Award for Aid Year. Read the instructions on the General Information tab.

Once you are able to access your award online, you will be given the option to accept, reject or reduce the aid that has been offered to you. Some forms of aid are automatically accepted for you, such as grants and some scholarships. The Financial Aid Office will offer you the maximum federal student loan you are eligible for. It is your responsibility to determine how much student loan, if any, that you will need to cover your expenses. You are encouraged to reduce your loan offers to the minimum amount you need to cover your estimated expenses. All loans, including Federal Direct Student Loans, Federal Parent PLUS Loans and private alternative loans may be reduced or cancelled for up to 30 days after they have disbursed (paid on your account).

If you are unable to accept your award electronically, please contact the Financial Aid Office for assistance.

Click here to access MyFSU.