An "award letter" is a document that tells you if you have been chosen to receive something, like money or an achievement, usually as a result of an application or competition. Full definition
You'll be notified of what you can borrow in the financial aid award letter from any school that accepts you. (nerdwallet.com)
After application, you will receive a financial aid award letter from your school either through email or mail. (usstudentloancenter.org)
Once you get an early estimate of your costs and receive award letters from schools you're considering, you can determine your actual college costs. (wellsfargo.com)