A Guide to Your
Financial Aid Award Letter​

This information is provided to accompany your financial aid award letter for the 2014-2015 academic year.


We know that navigating ​through the financial aid process can be daunting, even for the most experienced students and parents. The goal of this guide is to describe the forms of financial aid, explain how an aid package is developed at UF and help you explore other aid opportunities. This guide also includes informative videos on how to complete the FAFSA, responsible borrowing and what to expect when the time comes to start paying back loans.

Please read this material carefully and use it as a guide toward understanding your award letter. If you have questions that you didn’t find the answer to in this guide or you would like to request an individualized session with our financial aid expert. Click here to Schedule an individualized session to get help understanding the financial aid process.

What is a Financial Aid Award Package?

A financial aid award package is a summary within the letter you received of the total amount of financial aid offered to a student by all sources.

It includes one or more of the following sources: scholarships and grants, loans and Federal Work-Study. Generally, awards are divided between the fall and the spring semesters. In addition to scholarships and grants, your award package may include a suggested amount for federal student loan programs (Federal Direct Stafford Loan or Federal Direct PLUS Loan), recommended work-study, and the Federal Perkins Loan.

Your financial aid award information is available for your reference in your UFNe​t account at my.findlay.edu. Here you can check your financial aid status, view your financial aid awards, and check for updates and messages


Scholarships and Grants

Scholarships and grants are types of financial aid that do not have to be repaid. They may take the form of University scholarships, federal or state grants, or scholarships from outside sources.


UF Merit Scholarships

The University of Findlay offers merit-based scholarships to undergraduate students. Eligibility for a merit-based scholarship is determined by a student’s accumulative high school GPA and ACT/SAT score for first-time freshmen or by an accumulative GPA from all other colleges/universities attended for transfer students. Click here to see specific information about Findlay’s merit scholarship levels. Merit scholarships at UF are automatically renewable for up to five years of undergraduate study, as long as the student stays in good academic standing.


UF Endowed Scholarships

Endowed scholarships at UF are typically awarded to students who have sophomore to senior standing. These scholarships can be applied for midway through a student’s freshman year of college, and any that are awarded will be automatically added to the student’s financial aid package for the next year. Endowed scholarships are a good way to continue to increase you financial aid package each year you attend UF. Click here for a complete list of endowed scholarships.

Federal Pell Grants

The Federal Pell Grant Program provides assistance to undergraduate students who demonstrate financial need according to economic criteria and program requirements established by the federal government. To be eligible, students must enroll in a degree program and be pursuing their first bachelor's degree. (Students are not eligible if they have already completed a bachelor's degree.) An estimated award will be listed for you if we think you will be eligible.


Federal Teacher Education Assistance for College and Higher Education (TEACH) Grant

Through the College Cost Reduction and Access Act of 2007, Congress created the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program that provides grants of up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families.


Federal Supplemental Educational Opportunity Grants (FSEOG)

The FSEOG program is funded by the U.S. Department of Education and administered by The University of Findlay to provide assistance to students with exceptional financial need. All students who qualify are automatically considered for this grant. However, our funds from this program are very limited.


Federal Veterans Benefits

The U.S. Department of Veterans Affairs offers education grant assistance to qualified U.S. military service members and their families.


Scholarships and Grants from Other Organizations

In addition to theses sources of financial aid, you may also be eligible for a private scholarship or grant from an outside organization or agency. Some sources to explore are employers, unions, professional organizations, and community and special interest groups. 


Loans From External Sources

Your financial aid package may include a loan. The difference between a loan versus a scholarship or grant, is that a loan must be repaid. Therefore, when deciding whether to borrow, you should examine your need for assistance and your future ability to repay.

Unlike consumer loans, student loans have longer terms of repayment and in most cases are not repayable until you leave school. Interest rates vary from program to program but are usually lower than rates on loans made to the general public. To be eligible for a federal loan, students must be officially admitted to The University of Findlay.

Federal Direct Subsidized Stafford Loan 

If your award package lists a Federal Direct Stafford Loan and/or a Federal Direct PLUS Loan, the information below should help clarify the terms and conditions of this loan. 

  • Who the loan is from: U.S. Department of Education 
  • Amount: Up to $3,500 Freshman, $4,500 Sophomore, $5,500 Junior and Senior 
  • Interest Rate: 6.80%
  • Repayment term: 10 years   
  • Eligibility: Student must maintain at least half-time enrollment status in each enrolled semester and meet basic eligibility requirements. 
  • Deferral: Principal and interest*.  Repayment begins six months after graduation or when the student falls below half-time status. 
* For new Subsidized Stafford Loans, the interest subsidy during the six-month grace period is canceled for students who fall below half-time status.

Federal Direct Unsubsidized Stafford Loan

  • Who the loan is from: U.S. Department of Education
  • Amount: Up to $5,500 Freshman, $6,500 Sophomore, $7,500 Junior/Senior, $20,500 (All amounts minus any subsidized Stafford loan.)  
  • Interest: 6.80% 
  • Term: 10 years. 
  • Eligibility: Student must maintain at least half-time enrollment status in each enrolled semester and meet basic eligibility requirements. 
  • Deferral: Principal only. Interest may be capitalized. Repayment begins six months after graduation or when the student falls below half-time status. Eligible students are automatically renewed for the Unsubsidized Stafford Loan. 


Federal Perkins Loan Program

All students are automatically considered for the Federal Perkins loan, but funding for this program is primarily allocated to our neediest full-time students. The annual interest rate is five percent, and interest does not accrue while a student remains enrolled at least part-time.

If you are eligible for a Perkins loan, your award package will indicate the amount. Please note that if you decide not to accept the loan, your eligibility for Perkins may be canceled in subsequent years.


Federal Direct PLUS Loans

You or your parents may also have the option of applying for a Parent PLUS loan if you are enrolled at least half-time. The loan is credit-based.

  • Who the loan is from: U.S. Department of Education
  • Amount: Up to the full cost of education, minus all other financial aid received. 
  • Interest: 7.90%
  • Term: 10 years.
  • Eligibility: Student must maintain at least half-time enrollment status in each enrolled semester and meet basic eligibility requirements. 
  • Deferral: Principal only. Interest may be capitalized. 

Federal Work-Study

Most financial aid award packages include work-study. This means that you are eligible to participate in the Federal Work-Study Program, and may earn up to the amount recommended in your package.  Federal Work-Study jobs, generally averaging from 15 to 20 hours per week, are secured through the Student Employment Office. Positions in various on-campus departments and organizations are available and usually pay $8 or more per hour.


Work-Study earnings are not credited toward tuition and fees or room and board but are paid to the student on a bi-weekly basis. Students are not required to meet their earnings expectation through the Federal Work-Study Program, and may choose not to accept Federal Work-Study and seek instead employment in an on-campus or off-campus job in which wages are paid entirely by the employer's budget.