Decode Your Financial Aid Offer

Next Steps

After you receive your UT financial aid offer, follow this guide to make sure you complete all the necessary steps and are ready for Rocky Top!

Step 1: Accept Federal Work-Study or Loans

Scholarships and grants are automatically accepted for you. If you have Federal Work-Study (FWS) or student loan offers, you need to accept the ones you want. Remember that loans will need to be paid back. Learn more about loans and smart borrowing here.

To accept your financial aid offers (FWS and loans):

  • Log into your MyUTK account using your NetID and password.
  • Click on “Continue to MyUTK.”
  • Click on “Accept Award Offer” in the “My Financial Information” section.
  • Select the 2024-25 aid year.
  • Read and follow the on-screen instructions to view and then accept or decline your offer.

Step 2: Confirm Your Enrollment by May 15

Next, make it official and confirm your enrollment! Please pay the $250 enrollment deposit by May 15, 2024. The deposit is nonrefundable and nontransferable, but will be credited toward your first semester costs. Learn more at

Step 3: Send Your Final High School Transcript(s) by July 1 

If you’re an incoming first-year or transfer student, we must receive your final high school transcript(s) by July 1, 2024. Your graduation date must be printed on your official transcript. This step does not apply to returning UT students or transfer students.

Your financial aid package and scholarships may decrease, change, or not be available if your final high school transcript(s) are not received or if there are inaccuracies.

Step 4: Submit Your Official ACT/SAT Scores by July 1 

Remember to take any standardized tests (ACT/SAT) early enough for UT to receive your scores by July 1, 2024. We need your official test scores by July 1 to confirm your financial aid eligibility. Your financial aid package and scholarships may decrease, change, or not be available if these are not received or if there are inaccuracies.

Please note: It can take up to eight weeks for test scores to be received and processed by the university. We recommend you take your final standardized test no later than May 1 to ensure UT receives and processes them by July 1.

Step 5: In-State HOPE Scholarship Students

Make UT Knoxville your first choice for the HOPE Scholarship in your TSAC portal to receive the most accurate estimate of state financial aid (HOPE, GAMS, etc.). For more information, visit the TSAC Student Portal.

Step 6: Add an Authorized User to Your Account (recommended)

An Authorized User (AU) can make payments on your account and talk to One Stop about financial aid offers, billing statements and payments, verification, and other requirements needed for payment due date. Adding an AU (parent, spouse, family, etc.) to your account can help keep you on track and successful!

UT cannot share your financial records with third parties unless you give authorization. If you don’t have an AU set up, you are the only one who can get updates and take action steps for financial aid, billing and payment, etc. Learn more here.

Step 7: Set Up an E-Refund Account in MyUTK (recommended)

We recommend that you set up direct deposit for excess financial aid in your MyUTK account. This will help you receive any excess aid quickly and directly to your account. Learn more here.

Scholarship Information

UT offers many scholarship opportunities for students. Learn more about the individual scholarship(s) and their requirements below.

Payment and Funding Options

Looking for more options to help with your educational costs? Check out the list below for potential funding opportunities.

Federal Work-Study

Federal Work-Study (FWS) allows eligible students to earn income by working part-time. This program offers flexible work hours to fit your school and life schedule, professional development and resume-building opportunities, a connection point on campus, and additional income! 

FWS offers many on-campus and off-campus positions to fit your interests. The amount you receive is determined by your remaining need and how many hours you work. The FWS program is first-come, first-served, so accept your offer as soon as possible!

Are you interested in participating in FWS, but it wasn’t included in your financial aid offer in your MyUTK account? Contact One Stop!

Learn more here.

External Grants/Scholarships

There are many grants and/or scholarships offered outside of the university or the federal and state government. Visit this website to learn about researching and applying for external grants and/or scholarships.

Deferred Payment Plan

UT offers an incremental payment option called a Deferred Payment Plan (DPP). This plan requires students to pay 50% of the account balance (after financial aid has been applied) plus a $30 service charge when they enroll in the payment plan. Students must enroll and pay the 50% by the payment due date each semester. After the initial 50% payment, there will be a second and third payment installment in the following months.

Learn more about payment plans here.

Federal Student, Parent & Private Loans 

We encourage you to budget based on the financial aid listed in your letter, but the following are additional options you can research. Visit our Student Loans webpage to learn more.  

First-time borrowers (for federal loans) must complete a Master Promissory Note (MPN) and Entrance Loan Counseling with the Department of Education at

If you have questions about or are considering taking out student loans, we encourage you to connect with the Center for Financial Wellness (CFW). The CFW team can provide guidance and resources to set you up for financial success!

Important Payment Information

Visit our payment and billing webpage to stay on track with all of the important dates and deadlines that impact your bill and payment due date.

If You Are Selected for Verification

We are here to help you every step of the way! Visit our financial aid verification webpage for information and resources to successfully complete this process.

Frequently Asked Questions

If you have questions about your financial aid offer, check out our list of FAQs below to see if we answer them here! If you still have additional questions, please contact One Stop.

Who should I contact if I have scholarships that are not listed in my letter?

For institutional scholarships, contact One Stop.

For departmental scholarships, contact the academic departments if these have not been added to your account by mid-July.

External scholarships will not appear on your financial aid offer. These will appear in your MyUTK account once the scholarship is processed by the university. External scholarship documentation should be sent to UT as soon as possible to allow time for processing before the payment due date.

How do I start Federal Work-Study?

If you are eligible for and have accepted your Federal Work-Study (FWS) offer in your MyUTK account, you will be contacted via your UT email to begin the onboarding process. After you complete onboarding, you’ll be able to apply for jobs!

You will be paid biweekly throughout the semester. These funds do not pay directly toward your semester’s billing statement.

Learn more about FWS here.

What is the difference between a subsidized and unsubsidized loan?

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 or if you drop below half-time enrollment.

You are responsible for paying all of the interest for Direct Unsubsidized Loans. You have two options with this loan:

  • You can choose to begin payment on your loans and their interest early with no penalty
  • Or you can allow interest to accrue and be added to the principal amount of your loan

We encourage you to work with the Center for Financial Wellness to learn about student loans, understand how to borrow responsibly, and develop a budget or spending plan to help you achieve financial success!

What if the offer doesn’t cover my entire cost?

We encourage you to budget based on the financial aid listed in your offer letter. Make sure you have read through our payment and funding options listed above.

What is Loan Entrance Counseling and the Master Promissory Note?

You are required by the federal government to complete Loan Entrance Counseling to ensure 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. If your parent applies for a Parent PLUS loan, your parent must complete a PLUS Master Promissory Note.

Loans will not apply to your UT account until you complete both the Master Promissory Note and Loan Entrance Counseling at We encourage you to complete these steps as soon as possible so your loan will apply to your account in time for fall 2024 payment due date.

Do I have to take the entire loan?

No – you can accept all or just a portion of your loans in MyUTK, including only the fall or spring portions. We encourage you to be a responsible borrower and plan your budget around payment and repayment. Our team members at the Center for Financial Wellness are experts in student loans, responsible borrowing, and in coaching you to be financially successful each semester based on your situation. Contact them for a one-on-one to learn more and set yourself up for success!

What do I do if I have excess aid?

You can set up direct deposit for excess financial aid in your MyUTK account. For more information, click here.

If I’m selected for financial aid verification, where do I send my documentation?

The fastest and safest way to send documents is by directly uploading them online. 

1. Log into your MyUTK account.

2. Click on the “My Financial Information” section.

3. Select “TN HOPE, SAP, and Requirements.” You will find specific directions for how to upload each document here.

You can also submit documents to One Stop Student Services in person, or by mail to:

The University of Tennessee
Office of Financial Aid and Scholarships
Mail Stop 0230
Knoxville, TN 37996-0230

When sending your documentation, please remember to:

  • Clearly identify that your information is being sent in reference to your financial aid verification.
  • Send all documents at the same time.
  • Do not send original documents to UT – send us copies!
  • Print your name and nine-digit student ID number or Social Security Number on each page of the documents you submit.

Do I have to participate if I was selected for financial aid verification?

If you have been randomly selected by the US Department of Education for verification, you are required to participate. Your signature on the FAFSA signifies your agreement to provide proof of your application information.

You will not be eligible for federal, state, and some institutional funds until the verification process is complete.

What is Course Program of Study?

UT follows Course Program of Study (CPOS) regulations. CPOS is a federal requirement by the US Department of Education that states that students are eligible for their full federal or state financial aid if they take a minimum of 12 credit hours of eligible courses within their declared major each semester. CPOS does not apply to institutional aid and other scholarships.

For more information on CPOS, click here.

Helpful Resources

We encourage you to use the resources below for financial aid help and overall financial wellness.

College Financing Plan

The financing plan provides a template so you can compare your UT financial aid offer with offers from other colleges. You’ll find your UT financial plan in your MyUTK account in the “Self-Service” tab of the “My Financial Information” section.

Important Dates

July 1:

  • Financial documents are due.
    • Log into your MyUTK and click on “TN HOPE, SAP & Requirements” in the My Financial Information section to view any required documents
  • Final high school transcript is due.
  • Official, verified ACT/SAT test scores are due.
  • Verification documents are due.

Mid-July: Fall tuition and fees will be available to view in your MyUTK. Stay up-to-date with each term’s billing and payment dates and deadlines here.

Loan Calculator

Many families use loans to help finance educational expenses, but we know there is a lot to consider before knowing how much and when to borrow. Visit the Student Aid Manage Loans page and Loan Simulator for tools that will help you understand how to repay your loans.

One Stop Student Services

Contact One Stop | 865-974-1111

The team at One Stop can answer your questions about admissions, financial aid and scholarships, registration and records, and billing and payment. One Stop staff are cross-trained and are truly a one-stop shop for your questions!

Please contact One Stop if any of the following conditions apply to you:

  • Not attending the University of Tennessee, Knoxville
  • Enrolled less than full-time for either term
  • Attending for one term only
  • A third-party (sponsor) is paying toward your tuition and fees
  • You have official documentation for additional funding
  • Changing your decision after you have accepted or declined the financial aid offer in MyUTK

Center for Financial Wellness

An amazing UT resource, the Center for Financial Wellness (CFW) is here to help you pursue life-long financial health! Their team provides learning and coaching opportunities and resources to help you understand everything related to smart financial practices. If you have questions about budgeting, student loans, or finances, contact CFW at or schedule an appointment at

Discounts and Waivers

Academic Common Market
UT is a member of the Academic Common Market, which allows out-of-state students to pursue college degrees at discounted, in-state tuition rates. More than 1,900 undergraduate and graduate degree programs are available through agreements among the states and schools. Due to the significant ACM tuition and fee benefits, ACM students will not be eligible for institutional scholarships.

If you have questions regarding Academic Common Market at UT, contact One Stop.

Veterans Benefits
If you’re a veteran, you may be eligible for educational benefits through a GI Bill program! Learn more by visiting UT’s Veterans Success Center.

Explore your options, apply for benefits, and more through the US Department of Veterans Affairs.

Discounts and Waivers
If you’re employed by the state of Tennessee or UT, you may be able to take advantage of discounts and waivers. Employee fee waivers are contingent on your pay status on the first day of classes each term.

If you work for a private employer, you may be eligible for discounted tuition or reimbursement. Please contact your employer’s Human Resources office for more information. Visit our Discounts and Waiver page to learn more.

Residency Classification

Many factors, including your residency location, go into determining eligibility for a financial aid offer. If you have questions about residency regulations, please refer to the Student Residency Classification page. Contact the residency team for help or with questions at

Maintain Your Financial Aid

Federal, state, and university regulations require students who are receiving financial aid to show progress toward completing their degree. This policy, referred to as Satisfactory Academic Progress (SAP), must include a qualitative measure, such as a cumulative GPA, and a quantitative measure, such as a maximum time frame to complete a degree. Visit our Keep Your Financial Aid webpage for more details.

Scholarships and different types of aid have different retention requirements. Please carefully review each individual type of aid and scholarship you receive to fully understand what you must do to keep your aid.