Next Steps After Receiving Your Award Letter

STEP 1: Review Your Award Checklist in Financial Aid Self Service

Your financial aid award and checklist of steps to complete in the financial aid process is available for review using McDaniel College Financial Aid Self Service. To access Financial Aid Self Service, go to www.mcdaniel.edu and select "MyMcDaniel" (top right). Then select "Admitted Applicants" from the menu bar on the left side of the screen, followed by "Self Service". Please enter the user name and password found on the first page of your Financial Aid Award Letter. User name and password information can also be obtained from your McDaniel College personal admission page.

  • Review your checklist for items needed to complete your financial aid application. Please click on any document requested to print, complete, and return it to our office for processing. For information on the status of received documents, please refer to the My Documents section of Financial Aid Self Service.
  • Once all documents have been submitted and received, please revisit your checklist regularly for updates to your financial aid award.

STEP 2: Accept, Decline, or Reduce Components of Your Financial Aid Award.

Using Financial Aid Self Service, you can accept, decline, or reduce Federal Loans and Federal Work Study (if offered) by selecting "Accept/Decline Awards." This step is only available to students who have received a FINAL AWARD LETTER. Grants and Scholarships are automatically accepted. You must electronically accept any loans you wish to use. Financial aid that is not accepted will not appear on your billing statement.

For step-by-step instructions on Accepting Loans Offered, watch this video tutorial »

STEP 3: Complete Your Student Loan Requirements

If you have accepted Federal Loans on Financial Aid Self Service and are a first-time borrower at McDaniel College, you will need to complete the following loan requirements. These steps are also noted on your checklist on Financial Aid Self Service.

  1. Federal Loan Entrance Counseling »
  2. Loan Agreement for a Subsidized/Unsubsidized Loan (MPN) »
Interest Rates and Loan Fees
 

Subsidized Federal Direct Loan

Unsubsidized Federal Direct Loan

Interest Rate

4.45%

4.45%

Origination Fee

1.068%

1.068%

Grace Period

6 months

6 months

Does Interest Accrue While Enrolled?

No

Yes

 

STEP 4: Report Your Outside Scholarships and Resources

Outside scholarships and resources include scholarships received from charitable organizations, employers, tuition benefits, veteran benefits and other external private sources. If you receive an outside scholarship, you are responsible for notifying the Financial Aid Office about the details and any restrictions of the details and any restrictions of the award. You do not need to report scholarships and grants received from the Maryland Higher Education Commission (MDCAPS). Under federal law and McDaniel College policy, we must consider these resources and may be required to revise your financial aid award.

Outside Scholarships and Resources are reported online using Financial Aid Self Service. Instructions can be found here »

For step-by-step instructions on reporting outside scholarships and resources, watch this video tutorial »

If your scholarship check is being sent directly to McDaniel College, please use this address:

McDaniel College
Bursar Office
2 College Hill
Westminster, MD 21157

If your scholarship requires that you send an official invoice from the college before the funds will be released, you must contact the McDaniel College Bursar Office by phone at 410-857-2209 or email at bursaroffice@mcdaniel.edu.

STEP 5: Electronically Sign Your Award Letter

Once all steps in your checklist on Financial Aid Self Service are complete, you must electronically sign your Award Letter. Aid will not disburse to your student account until the award letter is signed. Additional revisions, including the additional of outside scholarships, can still occur after the award letter is signed.

For step-by step instructions on signing your award letter, watch this video tutorial »

STEP 6: Review Your Bill

You will be notified by email when a billing statement has been issued. Bills are generally issued mid-June and late-November. If you accepted your financial aid and signed your award letter in Financial Aid Self Service, those amounts will appear on your billing statement as pending aid until actual funds are disbursed and it will reduce the amount that you must pay.

If you have questions about paying your bill, setting up a payment plan, or accessing your refund, contact the Bursar Office at 410-857-2209 or bursaroffice@mcdaniel.edu.

If the amount of financial aid you received is greater than the charges on your bill, you may be eligible for a refund. For more information about receiving a refund, contact the Bursar Office.

STEP 7: Seek Employment On/Off Campus

You can help support your education and gain valuable work experience by working part time during the academic year and full time during the summer. Many students are able to work on-campus. If your financial aid award includes Federal Work Study, opportunities may be available to you.

Students working on campus or with campus partner organizations, receive monthly paychecks for the amount earned each month. You are not required to earn the full amount of your Federal Work-study award nor will it appear on your billing statement.

Learn more about working at McDaniel College through the Center for Experience and Opportunity (CEO).

STEP 8: Plan for Paying the Remaining Balance

Develop a plan early for paying your remaining balance and other out-of-pocket costs after financial aid is applied. Financial Aid Counselors are available to answer questions and discuss additional funding options.