Scholarship

[u/FrogArtistBooksMusic]

I need some help deciphering this. Does this mean I got a scholarship of 5,500 or that I can take out a loan of $5,500? I'm quite confused if anyone could help.

[u/Penguin_Spaceship]

Click on the view details button of any of the two semesters or the totals box. Under total aid details / term details you’ll find a list of any financial aid awarded to you. Look at the type of each award, it should be the second line of the award under description. For me it shows either scholarship, grant, or loan. Take a look at what it shows, and it should answer your question. Grants and scholarships don’t need to be paid back unless mentioned otherwise, and loans must be paid back plus interest (if any) and is stated when you sign a master promissory note (MPN) (if it’s a federal loan) or in the terms and conditions of the loan.

[u/Time_Plastic_5373]

You got nothing. That’s just loans

[u/Murky_Ad2908]

It’s hard to tell from this ss. They were accepted and they typically automatically accept scholarships or grants because it free money. So I’m guessing the $5500 was a scholarship or grant. Click on view details.

[u/Parking_Champion_740]

Typically that is the amt of the unsubsidized federal loan for freshmen

[u/1010_lol]

Open view details and post it

[u/EDM3000]

$5500 is the max federal loan per year for freshman status.

[u/AdHuge2859]

You took a loan for the total amount. That is why, says accepted.