College awards themselves are not typically explained in detail, so here's some help. In this case, the package is broken into five sections:
Direct Costs, those the college will bill for.
The Estimated Costs, those the college WILL NOT bill for.
The Estimated College of Attendance.
The Scholarships and Grants offered.
Campus Job and Student Loans.
About awards. Some scholarships are based on merit, while others are really grants based on financial need. As long as your student maintains the minimum GPA the dollar amount of a merit award shouldn't change. Of course, the value of it declines each year as college costs rise.
Most grants are labeled as such. The dollar amount is usually variable based on annual changes of income and assets. If the student receives a scholarship, and there is still a good deal of eligibility for more aid and isn't offered a grant, it probably means one of two things: they don't have the money in their budget OR they don't have the money for your student.
In the fifth section, Federal Work-Study. FWS is an on-campus job BUT it's not guaranteed. Your student has to apply for it just like any other. In fact, there are more offers of FWS than actual jobs so applicants must be aware of application procedures and deadlines or risk losing out.
Lastly, student loans. Federal loan amounts for first-year undergraduate students are in most cases limited to $5,500. They may be broken into two types depending on your family's need and cost of attendance. These are subsidized and unsubsidized.
For student loans there are no credit or background checks, and no co-signers required.
This loan will be the student's responsibility. For subsidized loans, interest will be paid by the government as long as the student remains in school at least half-time, and for six months after finishing. For unsubsidized loans, interest will accrue over the course of the student's college years. As you are aware, no interest is accruing on any federal loans while the pandemic moratorium is in effect.
If the award letter doesn't include the indirect expenses or Estimated Costs, I suggest looking them up on the college's website under Tuition & Fees. Or you could go to the College Board website and look them up in the Cost section.