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April 22, 2010

Awarding

The actual delivery of financial aid to a student involves assembling and offering an aid “package,” recording the student’s acceptance or rejection of the offers, ensuring that all requirements for disbursement are fulfilled and then disbursing the aid according to the institution’s disbursement schedule. The package may consist of grant, scholarship and work awards and loans; each award or loan represents the potential commitment of an amount on a financial aid fund.

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