<p>I've just received an email from umich regarding my financial aid award.
I'm just a bit confused about the summary; what does "Offered" and "Accepted" each indiciate?</p>
<p>Is "Accepted" the final estimate summary that is available for me?</p>
<p>Thanks.</p>
<p>No. It indicates that you have accepted the award. You generally have to accept the various parts of a FA offer if you want it.</p>
<p>The “Offered” estimates for my loans show a certain amount but for the “Accepted” column, only 0s are shown.</p>
<p>Does this mean that I indicated in my FAFSA that I’m not interested in receiving any loans?</p>
<p>I did not accept or decline any of my offers yet; I just submitted the needed documents last week and received the estimate a few minutes ago.</p>
<p>never mind, i now understand how it works.
Thanks for your answer.</p>
<p>Yup, you choose if you want the loans or not, but I have a question…can’t you choose to accept only a part of the loan? It only lets me adjust my work study.</p>
<p>Also, subsidized means the government pays your interest during college, right? What about the federal Perkins loans, do I accumulate interest while in college?</p>
<p>I just googled the Federal Perkins loan and it says that it’s a “low-interest loan(5%)”
[Federal</a> Perkins Loan Program](<a href=“http://www2.ed.gov/programs/fpl/index.html]Federal”>http://www2.ed.gov/programs/fpl/index.html)</p>
<p>For me, at the accept/decline page, i have four seperate columns for federal perkins, federal subsidized, federal unsubsidized, and work study, and i can either accept or decline each one of them.</p>
<p>When i tick the accept box for any of them, it enables me to indicate the specific amount of money i would like to get a loan of/ earn by work study.</p>
<p>i’m an oos for engineering by the way, if that matters.</p>
<p>Ok, thank you! Anyways, I’m most likely going to accept all of the subsidized loans, and decline all of the Perkins (I don’t like the idea of accumulating interest while in college…) so I just realized it won’t matter, but thanks anyways!</p>