Applying and Declining Aid
You are able to accept or decline any financial aid that is offered on your award letter. At ISU the aid listed will be automatically coded as accepted in our school database, except for student loans and some scholarships. We do not encourage you to take debt, but we also understand that it is necessary sometimes in order to meet all your educational expenses. For that reason, student loans may be offered on your award letter, but are not automatically accepted. To accept them, complete the appropriate request form and return it to the Office of Student Financial Aid. You will need to indicate on that form the amount of loan you want to borrow and the lender you wish to borrow from.
Grants will be coded as accepted unless you tell us otherwise. Those funds will be applied to your school account upon arrival. Any excess funding will be mailed to you by check from the Office of the Controller.
In some cases declining Federal Work Study can increase your loan amounts available. If you do not need a job on campus and wish to decline Federal Work Study, complete a Federal Work Study form. You can also come speak with our financial aid counselor to discuss possible adjustments to your loan eligibility.
Some scholarships require additional paperwork to receive. Check with the donor of the award for their requirements.
To decline the loans (other than Perkins Loans), simply do not return your loan request forms to our office. The award will stay available should you need it at a later time. To decline other awards that are on your award letter, notify your financial aid counselor indicating you wish to decline the offers.