Accepting & Receiving Aid

You have just received your Financial Aid Award Offer--What to do next?

Accepting Financial Aid

  • If you have received a grant, our office has accepted it on your behalf (we just assume that you would want funds that don't require repayment.)
  • If you have been offered federal student loans, you can accept, reduce, decline, or leave at the offered status on a term-by-term basis.  Unless you accept at least part of your loan, no funds can be applied to your tuition account.
  • Federal student loans also require the completion of two federal requirements found on www.studentloans.gov.  You will access your account using your FSA ID.  All federal student loan borrowers are required to successfully complete Entrance Counseling (a primer on your rights & responsibilities as a federal student borrower) and a Master Promissory Note (MPN) which is your contract to repay your loan.
  • Students cannot accept a Parent Loan, only a parent can do so by completing the Parent Loan (PLUS) Application.  Parent borrowers are also required to complete a Master Promissory Note (MPN) at www.studentloans.gov.

First Time Acceptance of Scholarships Awarded by the Office of Admissions & Orientation

  • Entering students offered a scholarship(s) by the Office of Admissions & Orientation must accept their scholarship online. Follow the instructions through the acceptance process and do not forget to print a copy of the Terms and Conditions of your scholarship(s).

If your family's financial situation has changed for the worse since last year (or since you have completed your FAFSA), you should review the categories of the most common Special Circumstances Appeals.  While you can make an inquiry through the umd-ask-ofa@umich.edu email service, it may be easier to meet with a financial aid counselor to see if an appeal is the next step for you.