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.

A typical award might consist of:

1.  Federal Direct Subsidized Loan - $8,500
2.  Federal Direct Unsubsidized Loan - $12,000
3.  Federal Direct Graduate PLUS Loan - varies substantially depending on the costs associated with your program of study

Student Loans

Loans are a type of financial aid that must be repaid. Some loans (i.e., Federal Perkins Loan and Direct Subsidized 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 chaged to your student account, such as books/supplies, personal, and transportation expenses.

Securing the Aid You Were Offered

2011-12 Financial Aid Guide