Upon receipt of the FAFSA need analysis and all required forms and information, a student's need is determined. Award letters are prepared after the results of the FAFSA have been received in the Office of Financial Aid and eligibility has been determined.

An award letter is provided to every student who completes a FAFSA. Other information provided with the award letter is instructions, a Federal Stafford Loan Confirmation Statement, a list of lenders that other EVMS students have used in the past, and promissory notes, if applicable. The award letter includes the standard student budget, the expected family contribution, and, if the student is eligible, an offer of need-based funds and their eligibility for non-need based funds.

Awarding of EVMS-Administered Funds

EVMS administers a limited amount of federal and institutional loans and scholarships. These awards are given to students who have provided their parents' financial information and demonstrate the highest need. EVMS considers the parents' ability to contribute, outside resources available, and the student's maximum subsidized Federal Stafford Loan eligibility when determining each award.

Funds are awarded first to those students who met the March 15 and April 15 deadlines and continue to be awarded based upon the above criteria and a student's need until funds are depleted.

Additional information regarding the awarding process is available in the Office of Financial Aid.

Promissory Notes for EVMS Loans

Students receiving an EVMS-administered loan are required to sign a promissory note at the beginning of the year. Loan disbursements will be made in two equal disbursements, one at the beginning of each semester. Funds cannot be disbursed until the promissory notes have been received in the Office of Financial Aid.

Adjustments to Aid Awards

It is the student's responsibility to inform the Office of Financial Aid of any changes to his/her financial aid during the course of the academic year. If a student receives funds which were not anticipated at the time of application, the Office must be notified so the financial aid award is reduced accordingly.