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When you accept the offer of financial aid specified in your award notice, you agree to accept and fulfill all of the following responsibilities, including the terms and conditions set by the federal regulations for financial aid.
Additional Assistance
If you receive additional funds not listed on your award notice (scholarships, departmental awards, Michigan Education Trust, veteran's benefits, etc.), report them immediately to the Office of Financial Aid (OFA), even if the office making the award will advise us directly. To do this, from Wolverine Access select Student Business > login > Financial Aid > Aid Year > Awards > Accept/Decline Financial Aid > Report Additional Aid or Non-Enrollment. You will receive email notification that you have a revised award notice available, if there is any change to your financial aid eligibility because of the additional assistance. Please note that whenever you receive additional assistance, your aid awards may be adjusted or reduced, even if your financial aid has already been disbursed to you (please see Scholarships and Other Assistance on the How Need Is Determined page for more information).
Please note that students enrolled at more than one institution CANNOT receive financial aid from both institutions.
Previously Received Title IV Federal Aid
You must not be in default on any federal educational loans, or owe any refunds on federal grants received at any post-secondary institutions.
Use of Funds
- You may use funds listed on your award notice only for educationally related expenses incurred at the University of Michigan-Ann Arbor for the respective academic year.
- Some scholarships, such as the Michigan Competitive Scholarship and the Detroit Compact Scholarship, have tuition-only stipulations (they cannot be used for expenses other than tuition).
- The University applies your financial aid awards directly to charges on your university student account (including tuition, fees, housing, and other charges). Funds in excess of these charges will be released to you (this is called a "refund"). If subsequent charges are made to your university account, it is your responsibility to pay them. See Receiving Your Aid (Disbursement).
- Financial aid awarded for a specific term can only pay for charges for that term and the aid can only be disbursed to you/your account during that same term.
Enrollment Requirements
FULL-TIME:
We assume that you will enroll full-time at the University of Michigan-Ann Arbor (U-M) campus and your financial aid budget includes an allowance for tuition at a full-time rate. You must be enrolled at least half-time to be eligible for financial aid. If you enroll less than full-time but at least half-time (6 credit hours for undergraduates and 4 credit hours for graduate students), all your aid except Direct Loans will be reduced based on your level of enrollment and disbursed. Some scholarships require full-time enrollment before disbursement. Courses for which you are wait-listed or classes that you are auditing do not count when determining your level of enrollment. Please note that less than full-time enrollment may result in reduced aid eligibility and may affect your future aid eligibility, as well as your satisfactory academic progress.
REDUCING ENROLLMENT LEVELS:
OFA monitors enrollment levels (number of credit hours taken) each term. If you drop courses and fall below the minimum credit hour requirements (see our Overview of Aid Programs page for enrollment requirements), you may be required to repay all or a part of the aid you received. If you consider dropping a class, it is important to discuss your situation fully with a financial aid officer prior to doing so. Adjustments to your financial aid are not made until after the drop/add date for each term.
WITHDRAWAL FROM THE UNIVERSITY:
If you withdraw or are asked to withdraw from the university, you must inform OFA immediately. If you received a federal student loan, you will be sent information on completing loan repayment exit counseling. Depending on when you withdraw, you may be required to repay all or part of the aid you received (see Refund and Repayment Policies).
SATISFACTORY ACADEMIC PROGRESS:
Satisfactory academic progress (SAP) is the term used to denote a student's successful completion of coursework toward a certificate or degree. Federal regulations require OFA to monitor the progress of each student toward certificate/degree completion. Students who fall behind in their coursework, or fail to achieve minimum standards for grade point average and completion of classes, may lose their eligibility for all types of federal and state aid, and university aid administered by OFA. See satisfactory academic progress for more information.
STUDYING ABROAD AND FINANCIAL NEED:
Depending upon the cost of the study abroad program in which you enroll, we may or may not be able to meet your full demonstrated financial need to attend the program. For more information about your specific program, please contact our office.
UNDERGRADUATES WITH ONE OR MORE
BACHELOR'S DEGREE(S):
Undergraduates who have already received a bachelor's degree will only be eligible for loans while pursuing additional majors or bachelor's degree(s). This includes students in double major or dual degree programs who have already met the requirements for one of their majors or degrees and are continuing their education toward the additional major or degree. Also see the "What is SAP probation?" section of the satisfactory academic progress page. |
