Walking two students

How to Accept your Awards

 

A. Review your Award Package – What have I been awarded in the federal, state and university programs?

• Launch TSU website (www.tsu.edu)     
• Click on MyTSU
• Click "Current" Student
• Enter User ID and PIN (following instructions on page)
• Click on Students tab drop-down and select "Financial Aid"
• Click on Status of Financial Aid
• Select the 2022-2023 award year
• View "Student Requirements" in Home tab
• View "Award Offer" tab to review/accept awards
• Complete "Terms and Conditions"

B. Accept/Decline your Financial Aid Award

▪ Click "Award Offer" tab
▪ Go to the box that says Accept/Decline Award (Here you are able to adjust the amount of loans you want to accept).
- The accepted/adjusted amount will be divided between your expected enrollment term. 
- Submit award offer

C. Complete Entrance Loan Counseling – Federally mandated information sessions centered around student loans and repayment. 

▪ Visit www.studentaid.gov 
▪ Click – Sign In with your FSA ID
▪ Log into Account
▪ Click – Complete Loan Counseling (Entrance)

D. Complete your Master Promissory Note - The MPN is a legal document in which you promise to repay your loan(s) to the U.S. Department of Education.

▪ Visit www.studentaid.gov 
▪ Click – Login (Student need to use their FSA ID & parent will use their FSA ID)
▪ Click – Complete Loan Agreement (Master Promissory Note)
▪ Click – Subsidized/Unsubsidized, Grad PLUS, or Parent PLUS
▪ Complete, sign and print a copy of the MPN for your personal records

E. Complete your Financial Aid Deferment - All aid must be accepted or declined and
entrance counseling must be completed 24 hrs prior to gaining access to completing a deferment.

• Log into your MyTSU
• Click on Students tab drop-down and select "Financial Aid"
• Click on Financial Aid Deferment
• Select Term Fall 2022
• Select Yes
• Print copy for your records

F. Federal Direct Parent PLUS Loan – The Federal Direct PLUS Loan allows parents to borrow federal funds on behalf of a dependent child who is an undergraduate student. What actions must the parent and student complete?

A. Have a valid FSA ID. .
  • Complete, submit and sign the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov 
  • Accept the loan on the students MyTSU account notifying the office that the parent and student wish to participate in the Parent PLUS Program. This does not indicate the loan has been approved.

B. The parent borrower must login with parent’s information and FSA ID.

  • Complete the credit review at www.studentaid.gov 
  • Apply for a Direct Plus Loan
  • Select Direct PLUS Loan Application for Parents
  • Please be sure to click on the 2022-2023 Award Year
  • A positive credit approval is required to use the Parent PLUS Loan as a guarantee to pay for campus housing and meal plans and is not applicable toward the housing deposit

C. If the Federal PLUS Loan is approved, the applicant will be allowed to complete the PLUS on
line process.

  • Designate recipient (parent or student) of any funds in excess of allowable charges on
    student’s TSU account.
  • Any funds in excess of the student’s allowable charges at the point of disbursement will be
    forwarded to address entered on the Federal PLUS online application.

G. Federal Graduate PLUS Loan – The Federal Direct Graduate PLUS Loan is a low-interest loan borrowed directly from the federal government. 

A. Have a valid FAFSA FSA ID. 

  • Submit the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov
  • Accept the Federal Direct Graduate PLUS Loan on MyTSU account. This does mean the loan has been approved.
B. Complete the credit review at www.studentaid.gov 
  • Select Apply for a Direct Plus Loan
  • Select Direct PLUS Loan Application for Graduate/Professional Students
  • Review results of credit review
  • If the Federal PLUS Loan is approved, the applicant will be directed to complete the Master Promissory Note (MPN)
  • Complete the Master Promissory Note, print and retain the copy for your records. (See Section D)