Once your financial aid file is complete (all documents received by financial affairs), awards can be made based on cost of attendance and student need.
In late May, the UFCD Financial Aid Committee meets to make decisions based on information from both your FAFSA and UFCD Financial Aid Application. Student Financial Affairs develops individual financial aid packages, which may contain various federal, state or college awards.
After awards are made, an award notice/letter will be mailed to the applicant. Entering D.M.D. students are notified of their financial aid with a predicted award notice in May and an actual award notice sent via email in late July. All other students will receive a Notification of Financial Aid Award from us during the summer.
Award notices not only let you know how much financial aid you will be eligible for, but also the steps involved with obtaining the awarded funds. It is imperative that you read and understand everything contained within the award notice.
Before you can receive your funds, you will need to complete the checklist of items outlined in your award notice.
Award Notice Checklist
First-time Borrower Entrance Counseling
Before loans can be disbursed, first-time Federal Direct Loan and Federal Perkins Loan borrowers must complete entrance counseling. Go to ISIS > Financial Services > Entrance Counseling, Direct Loan.
First-time Perkins Loan borrowers receive information by mail from University Financial Services (UFS) about completing online entrance counseling. For more information, contact UFS at 352-392-0737.
Federal Direct Stafford Loan Acceptance
Stafford Loan borrowers must “accept” each term’s award on ISIS before their funds can be released. Go to ISIS > Financial Aid > Awards & Disbursements. Complete this requirement as soon as possible to ensure that your funds are disbursed at the beginning of the appropriate term.
Students may also reduce or cancel Direct Stafford Loans on ISIS. If you are sure you don’t want to receive a loan, please cancel it.
Federal Direct Stafford Loan and PLUS Loan Master Promissory Notes
Previous Direct Stafford Loan borrowers should already have a Master Promissory Note (MPN) on file. New borrowers who do not have an MPN on file must sign a Master Promissory Note at studentloans.gov to complete one.
Federal Direct Loan Processing
Before your Federal Direct Loan can be disbursed, your loan data must be transmitted to the Federal Department of Education (DOE) for approval. This process takes about six working days after UF awards you a Direct Loan. Once your loan is approved, DOE will mail you a disclosure notice. Your loan can be disbursed after the loan is approved and you have met all other requirements for disbursement.
UF Long-Term Loan Promissory Notes
Borrowers of a UF Long-Term Loan will receive a promissory note by mail from UFS. Promissory notes must be signed and returned to S-113 Criser Hall before the loans can be disbursed.
Key things to remember about the award notice:
Your award notice will arrive during the summer.
Read all information contained within the award letter.
Complete all steps to ensure that your financial aid is not delayed.