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 Parent Guide

Many parents of U-M students are actively involved in their children's lives, especially when it comes to college finances. To help parents stay informed about financial aid, we offer this page of information and links that parents of U-M students often find useful.

On this page

 

YOUR STUDENT'S FINANCIAL AID INFORMATION

We send most of our correspondence regarding students' financial aid directly to students via email. If you want to stay informed and help your student manage his or her financial aid, there are a couple of things you should know:

 REQUESTING INFORMATION ABOUT YOUR STUDENT

Under the Family Educational Rights and Privacy Act (FERPA) and University of Michigan policy, the Office of Financial Aid is prohibited from releasing financial aid information to anyone other than registered U-M students. We can discuss financial information with dependent students' parents or custodial parents, if the parents provide identifying information (the student's UMID) and if the student's dependency status is confirmed.

ACCESSING YOUR STUDENT'S FINANCIAL INFORMATION ON WOLVERINE ACCESS

Students manage most of their business transactions, including financial aid, on the web via Wolverine Access. The Parent/Family Authorization feature of Wolverine Access allows students to authorize a "Friend Account" for their parents or other family members. With a Friend Account you can access your student's financial aid award notices, financial aid forms/documents, and bills.

Your student may authorize Friend Accounts for parents/family members. Ask him/her to: Click on the Parent/Family Authorization from within Wolverine Access. On this page, your student can select My Financial Aid Data to grant access to his or her financial aid information and My Student Account Data to grant access to his or her student account (billing) information.

Within 24 hours after your student authorizes access for you, you will receive an email with Friend Account setup instructions. For more information, see the university's Information Technology and M-Parent websites. Once a Friend Account is established, visit Wolverine Access and select My Student's Information (under Parents & Family). Note: It can take up to 30 minutes after establishing a Friend Account for parents access a student's award notice documents.

Students may also sign up their parents/family members to receive electronic financial aid newsletters and emails about student accounts, housing, university alerts and bulletins.

Internet Explorer is the preferred browser for accessing Wolverine Access. Click here for additional tips, including clearing caches and printing pages. If you are using a non-Explorer browser and need technical assistance, please call U-M Information and Technology Services at 734-764-4357.

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YOUR STUDENT'S ACCOUNT AND BILL 

The University of Michigan Student Financial Services office maintains students’ university accounts and issues student bills. If you have questions about your student's account or bill, you may contact Student Financial Services directly.

For basic information about student bills and how financial aid appears on the student bill, see Your Student Account and eBill. 

 

LOAN INFORMATION

  GENERAL INFORMATION

Information about students loans can be found in our Loans section. Each type of federal loan is explained, and guidance on finding private loans is provided.

  APPLYING FOR PARENT PLUS LOANS

See the Direct PLUS Loans page to find out how to apply for a Direct PLUS Loan for your student. The Direct PLUS Loan is a non-need-based federal loan with favorable terms that is available to parents with an acceptable credit history. Because federal loans offer several advantages, we encourage families to explore all available federal loan programs before taking out a private loan.

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PUBLICATIONS FOR YOUR STUDENT

Current and archived versions of these and other publications can be found on the OFA Publications page. 

Required Reading 2014-15

 REQUIRED READING 2014-15 

An all-inclusive guide to financial aid at the University of Michigan.

Information for Prospective Students 2014-15

 INFORMATION FOR PROSPECTIVE STUDENTS & THEIR FAMILIES 2014-15 

Information about the prospective student's estimated award notice with instructions for what the student needs to do

 OFFICE OF FINANCIAL AID NEWSLETTERS

Timely information for entering and continuing U-M students; covers application instructions and deadlines, updates and policies and procedures, and how-to information related to financial aid. Published in July, November and February each academic year.

 CONSUMER INFORMATION ABOUT THE UNIVERSITY

This brochure covers information that the university is required to make available as an institution that administers federal financial aid. Distributed once per term to all enrolled students.

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FINANCIAL AID CALCULATORS

 M-CALC NET PRICE CALCULATOR

M-Calc is U-M's net price calculator for dependent undergraduates, giving families an estimate of college costs, including expected family contribution and financial aid you might expect based on income and family information. It's confidential and your information will not be saved.

  CALCULATORS ON WOLVERINE ACCESS

If your student has authorized you to access his or her financial aid and/or student account information on Wolverine Access, you will be able to use these calculators.

  • To estimate your loan eligibility: 

Go to Wolverine Access > Campus Finances > Financial Planning Calculator > Calculate Private/PLUS Loan Eligibility. Use this calculator to see how much you would be able to borrow through a private loan program or through the Federal Direct PLUS Loan for the Fall and Winter terms. This calculator is not available to calculate Spring/Summer term eligibility.

  • To estimate your University of Michigan Bill:

Go to Wolverine Access > Campus Finances > Financial Planning Calculator > Calculate Estimated Bill.  Answer a few questions and select "Calculate Estimated Bill" to see a Fall term estimate. Beginning in mid to late September, you will be able to view a  Winter Term bill estimate. (The estimator is not available for Spring/Summer bills.)

Following is a "Budgeting Basics" video from CashCourse. Visit here for more information about the CashCourse website: www.finaid.umich.edu/Planning#cashcourse.


 

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Office of Financial Aid * 2500 Student Activities Building, 515 E. Jefferson, Ann Arbor, MI 48109-1316 * Tel 734-763-6600 * Fax 734-647-3081 * financial.aid@umich.edu
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