Understanding Your Award
for graduate students
Once we have reviewed the data provided on your FAFSA and any other required documentation, we will prepare your financial aid award. The financial aid award notification gives information about the source and amount of financial aid funds that a student is eligible to receive.
Loans are a type of financial aid that must be repaid. Some loans (i.e., Federal Perkins Loan) are awarded based on your demonstrated need. These loans carry lower interest rates and more favorable terms/conditions. Other loans (i.e., Direct Unsubsidized Loan and Direct Grad PLUS Loan) may be borrowed regardless of whether or not you demonstrate financial need. However, a current and valid FAFSA must be filed in order to process any type of federal student loan.
Cost of Attendance Budget
Toward the bottom of your award, you will find the Cost of Attendance budget that was used to determine your eligibility for financial aid. This budget includes both direct and indirect costs. Direct costs are items that will be charged to your Lewis & Clark student account, such as tuition and fees. Indirect costs are estimated expenses that you may have, but are not charged to your student account, such as housing, food, books/supplies, personal, and transportation expenses.