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Financial Aid Award Offer

Your award offer is just the beginning. Did you know our colleges and academic departments offer scholarships to current students, and we have scholarships for studying abroad?

UT offers lots of bang for your tuition buck. Within six months of graduation, more than 80 percent of our grads are employed or in graduate school, ready to tackle challenges big and small, to answer questions (some of which haven’t even been asked yet), and to bring the Volunteer spirit to their communities. We hope we can count you in!

CHECK YOUR MAILBOX & INBOX
You should receive a Financial Award Offer from us via mail and email in February. There are two different types of award offers (see below)–each with a special set of next steps for you complete in order to accept and/or be fully eligible for financial aid.

OFFICIAL AWARD OFFER

Your award is official because we’ve received your required materials in order to offer you a formal financial aid award.

1. Log in to your MyUTK account at my.utk.edu using your NetID and password then click on “Continue to MyUTK.”

2. Click on “Accept Award Offer” in the My Financial Information section.

3. Select the 2020–21 aid year.

4. Read and follow the instructions on this screen to view and then accept or decline your offer.

Accepting a Loan? Before the loan will apply to your UT bill, you must complete your Master Promissory Note and Loan Entrance Counseling by visiting studentaid.gov.

ESTIMATED AWARD OFFER

Your award is estimated because you’ve been selected to complete the federal verification process for the 2020–21 academic year by the US Department of Education.

 Estimated Award Next Steps

Reviewing your financial aid package from several schools can be overwhelming–especially when you are trying to figure out what the bottom line will be at each institution.  We want you to have a full picture of what your anticipated costs will be for the upcoming year and the financial aid available to help make your dream a reality. If you have questions about your awards, please contact One Stop at 865-974-1111 or at onestop@utk.edu.

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Live Q&A

Check out the video of the Live Q&A we recently hosted where our helpful staff and student answered common questions about the financial aid process, next steps, and much more!

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Award Offer FAQs

You can set up direct deposit of excess financial aid in your MyUTK account. For more information, visit onestop.utk.edu/refunds.

For institutional scholarships, contact One Stop at onestop@utk.edu.

For departmental scholarships, contact the academic department for next steps.

External scholarships will not appear on your award offer and will only appear in your MyUTK account once the scholarship is received and processed by the university.

Once you accept your offer for Federal Work–Study in your MyUTK account, you will be contacted by the Office of Financial Aid & Scholarships to begin placing you in an on- or off-campus job. The award is paid to students as a biweekly paycheck throughout the semester for hours worked. This award does not pay directly toward your bill.

We encourage you to budget based on the financial aid listed in your award letter. Check out other external funding options like Parent PLUS Loans and private loans.

Both loans are administered by the US Department of Education and offer competitive interest rates, which are determined by federal law. The Department of Education pays the interest on Direct Subsidized Loans while you are in school and for the first six months after graduation. You are responsible for paying all of the interest for Direct Unsubsidized Loans. You can choose to begin payment on your loans and their interest early with no penalty.

No! We encourage you to be a responsible borrower and plan your budget around payment and repayment.

The federal government requires you to complete entrance counseling to ensure that you understand the obligations of taking out a loan. You must also complete the Master Promissory Note—a legal document in which you promise to repay your federal student loan(s) and any accrued interest and fees to your lender or loan holder. In order to apply a loan to your UT bill, you must visit studentaid.gov to complete the Master Promissory Note and Loan Entrance Counseling.