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Financial Aid Notifications & Aid Release
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The Financial Aid Notification (FAN) includes an aid offer and provides you with the opportunity to accept, decline and reduce award amounts. Additionally, your FAN allows you to report changes in enrollment and additional resources and/or scholarships you expect to receive.
If you or your financial aid counselor make a revision to your financial aid award amounts, you are required to submit a new FAN to acknowledge the changes. To begin the FAN activation process, you must have already been awarded financial aid and have an upgraded UT EID. To learn how to upgrade your UT EID or to obtain your password information, use the UT EID Self-Service Tools.
You are required to activate your Financial Aid Notification within 21 days of receipt.* Failure to do so could result in the cancellation of your financial aid offer. If you are offered grants or Work-Study, this cancellation may not be reversible.
*Newly admitted freshmen have until May 1 to activate their FAN, regardless of date of receipt.
Release of Financial Aid
Typically, financial aid funds release no sooner than 10 days prior to the first class day of each semester.
  • Upon release, funds are first applied to your UT Austin debts, such as tuition and housing.
  • After your debts are paid, any excess financial aid takes 2-3 business days to appear in your bank account;* add about 5 business days if you did not elect to receive these funds via direct deposit.
If excess financial aid funds are sent to an account that has been closed or is no longer valid, contact the Student Accounting Office at (512) 471-3723 for assistance. This is also the number to contact if you believe your financial aid check has been lost in the mail.
*In rare cases, financial aid funds are handled differently than above. If you choose an alternative loan lender who does not participate in UT Austin’s electronic processes, a paper check will be mailed to the University. These checks will be made available for you to pick up at the cashier’s office.
Once awarded, check CASH for any outstanding requirements. Certain items, if left incomplete, may delay the release of your financial aid. For example:
Completing requirements to receive financial aid.
Award Type Requirements Complete the requirement
Federal Direct Subsidized and/or Unsubsidized Loan Entrance Loan Counseling Once, upon borrowing your first loan
Master Promissory Note Once; active for 10 years.
Federal Perkins Loan Entrance Loan Counseling Once, upon borrowing your first loan
Master Promissory Note Once; active for 10 years.
Federal Direct PLUS Application Request Each time a new loan is borrowed.
Master Promissory Note Once; active for 10 years,
unless an endorser was used.
Federal Direct Grad PLUS Entrance Loan Counseling Once, upon borrowing your first loan.
Master Promissory Note Once; active for 10 years,
unless an endorser was used.
Federal Work-Study Work-Study Counseling Annually
B-on-Time See Hinson Hazelwood Loans. See Hinson Hazelwood Loans.
College Access Loan (CAL)* Alternative Loan Lender Form Each time a new loan is borrowed
Application, Certification, Promissory Note See Hinson Hazelwood Loans.
Private Loans* Alternative Loan Lender Form Each time a new loan is borrowed
Application, Certification, Promissory Note Contact your chosen lender
*Neither OSFS nor The University of Texas at Austin recommend or endorse these loans. However; if these loans are pursued, the items listed above are required and if left incomplete, could delay processing.
Other potential delays
Your enrollment must reflect the number of hours originally reported on the FAN. If after you completed your FAN you decide to change the number of hours enrolled, your financial aid may require a revision.
Not meeting Satisfactory Academic Progress requirements will also delay your aid. Check “What Do I Need to Complete?” in CASH for this requirement.