The most important thing to remember for this part of the financial aid process:
Keep an eye on your Rocket email and myUT for communication from the Office of Student Financial Aid. We’ll let you know each step to complete before we can send your financial aid offer and have your funds available.
TIMELINE
April: Financial aid offers can be viewed in myUT.
HOW TO REVIEW AND ACCEPT AID
All of these steps must be completed before financial aid funds are paid into your account.
1. Check myUT to see if you have any outstanding financial aid requirements.
Requirements include things like making sure you’ve completed entrance counseling
for your loan. They must be completed before your financial aid offer can be finalized
and your aid paid to your account. To find requirements:
Go to myUT → Student tab → My Financial Aid → My Financial Aid Dashboard
2. Review and accept your aid.
Aid offers can be viewed in my UT in April.
Go to myUT → Student tab → My Financial Aid → My Financial Aid Dashboard → Award Offer.
Make sure you carefully review your entire package.
- Scholarships and grants are automatically accepted for you.
- Student loans and federal work-study must be accepted in myUT.
Go to myUT → Student tab → My Financial Aid → My Financial Aid Dashboard → Award Offer
IMPORTANT: You may refuse work-study or loans. Or you may choose to accept just a portion of the loan amount for which you qualify. - Fellowships and graduate assistantships are not listed in your financial aid package. They are administered by your college.
NOTE: You will NOT be able to accept Grad PLUS loans in myUT. You must apply for the loan separately.
If you have questions about your aid, review Understanding Your Financial Aid Offer. This also can be a great time to connect with staff at Rocket Solution Central. They can discuss options for additional sources of funding and help make sure you’ve maximized your aid.
3. Complete entrance counseling and sign the promissory note.
If you accept loans and are a first-time borrower, you must complete this step.
HOW YOU RECEIVE YOUR FUNDS
Your financial aid is paid ― or disbursed — to your student account at the beginning of each semester.
TIP: Want to use those funds to pay other charges on your account, like parking or health
insurance? Complete Title IV Consent. These charges are paid separately from tuition.
Many students forget to pay them and end up with late fees. To avoid that, fill out
Title IV Consent.
Go to myUT → Student tab → My Accounts → Title IV Consent
REFUNDS OF EXCESS AID
Sometimes the amount of aid you receive exceeds your bill and we can refund you the excess amount. We can send those funds to you in a variety of ways:
- Direct deposit
- Paper check
- Transfer to your Rocket Card
NOTE: Not all types of aid are refundable. University scholarships and some outside scholarships are nonrefundable.
HOW TO GIVE OTHERS ACCESS TO YOUR FINANCIAL INFORMATION
A federal law — the Family Educational Rights and Privacy Act or FERPA— prohibits us from releasing sensitive information about you to a third party without written consent. That includes financial information.
If you want to authorize us to speak with a parent or someone else about your financial
aid:
Go to myUT → Student tab → My Accounts → FERPA Consent