Understanding Your Award Notification
Your financial aid award notification may be the second most important piece of mail you receive from Rhodes.
Once you’ve been accepted for admission, financial assistance may become the next determining factor in where you’ll attend college. We consider each student’s individual circumstances in putting together aid packages—which frequently consist of a combination of fellowships and scholarships, other grants, work study and student loans.
Take a look at the sample award notification (PDF). This is what you may expect to receive when our award notifications are mailed April 1. After receiving this award notification, you may respond to it by using your Rhodes ID number and PIN to log into the BannerWeb, following the instructions on the award notification. Instructions are also listed below.
How should I evaluate my financial assistance package?
- Grants, scholarships, and fellowships do NOT have to be repaid. These are gift aid!
- All institutional scholarships, fellowships, and grants are renewable for three additional years (four years total) and no additional applications have to be completed after the aid is awarded. See College Catalogue for renewal criteria.
- You may accept or decline any portion of the aid package.
- You may decline all or part of the self-help portion (Federal Student Employment and/or loans) without jeopardizing any grant or fellowship offered. For instance, if your parents decide to pay a larger portion of your tuition to avoid a Federal Student Employment obligation, that is their option.
- If student loans are part of your financial aid package, you may elect to borrow a smaller amount than is listed. Simply change the amount of the loan directly on the BannerWeb. If you need to change the amount after submitting your decision, simply let us know, and we will change it for you. (Sned loan change requests from students′ Rhodes email account)
- You cannot deduct required enrollment deposits using the amount of your financial aid package. These must be sent directly to the Bursar’s Office when due.
- Per federal regulations, any financial aid awarded will be divided equally between the fall and spring semesters.
- All Rhodes, federal, and state grants and loans will be credited directly to your student account.
- All Student Employment earnings will be paid to you bi-weekly as earned; the earnings are NOT applied to your student account.
Are there circumstances that could change the amount of my award?
- Any errors we discover while verifying the financial information you report may change the amount of your award.
- Newly issued federal or state regulations may change your eligibility.
- Alterations to federal or state programs could change the amount of your award. Assistance received from a source not listed on your most recent Financial Aid Award Notification (including that listed on the BannerWeb) may affect your eligibility for some programs (including, but not limited to, outside scholarships and the like.).
- Failure to make satisfactory academic progress as stated in the Rhodes College Catalogue or failure to maintain full-time enrollment may change your eligibility for some forms of assistance.
- Your award may be changed if we discover a clerical or other error on your award, regardless of the reason for the error.
- If you don’t complete all required financial aid applications for federal, state and institutional need-based aid, your award may change.
How do I accept my financial aid package?
Using your Rhodes ID (listed in your admissions acceptance letter) and PIN, please go online to https://banweb.rhodes.edu to accept or decline any of the aid you have been offered. If you have trouble logging on with your ID and/or PIN, please contact the Admission Office at 901-843-3700. Here are instructions for logging in to BannerWeb:
- Click "Student & Financial Aid Information;"
- Click "Student Financial Aid Offers, Outstanding Fin. Aid Requirement Information, Messages from the Financial Aid Office;"
- Click "Financial Aid Award Information;"
- Click "Accept/Decline Your Individual Award Offer;"
- Select the 2014-15 aid year;
- Follow the instructions on that page;
- You may pay your enrollment deposit by clicking the "Pay a New Student Deposit" link or go online to http://www.rhodes.edu/admissions/default.asp, and click on "Pay a New Student Deposit."