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Annual Student Loan Acknowledgment

Annual Student Loan Acknowledgment

Please note: The US Department of Education (ED) announced the postponement of this loan requirement until the 2022-2023 academic year.

What is the Annual Student Loan Acknowledgment ?

Starting in the 2022-2023 school year, borrowers of Federal Subsidized, Unsubsidized, and PLUS loans must complete the Informed Borrowing Confirmation process once each award year before their loan(s) will disburse. This applies to all borrowers of federal loans - undergraduate students, graduate/professional students, and parents.

The Annual Student Loan Acknowledgment is an online session that will allow students and parents to see how much they have borrowed, preview what their monthly payments might be, and explain concepts such as capitalization and the difference between federal and private loans.

What will you gain from the Annual Student Loan Acknowledgment?

  • Making informed choices by showing students and their parents how much they owe in federal student debt before agreeing to borrow more money to pay for their higher education.
  • Knowing the borrower’s obligation by calculating the monthly payments and the median salary that students can expect to receive after graduating from a specific college.
  • Understanding the balance for repayment by breaking down basic loan concepts such as interest accrual and capitalization and the difference between private and federal student loans.

How do I complete this?

In late April 2022 log into your MyStudentAid account using your FSA ID and password to complete your Annual Student Loan Acknowledgment requirement. We will notify you via HokieSPA and VT email when you need to complete this requirement.

After mid-July check your HokieSPA to see this requirement listed as “Completed.”