Smart Borrowing

Follow the smart path when considering student loans

We’re asking all students to Be Smart About Borrowing. Consider options to reduce the need to for loans and borrow only what is necessary to achieve the goal of a U-M college education:

  • Review your lifestyle. Trim costs and consider needs vs. wants
  • Consider part-time employment to stretch your dollars without borrowing
  • Stretch your dollars: Check out the U-M Payment Plan for Fall-Winter semesters
  • Use personal or family assets when possible before considering a loan
  • Considering summer school? Take classes closer to home and incur less cost or consider a roommate

These online resources may also help:

NEED A LOAN FOR SPRING/SUMMER?

Complete a Smart Borrowing form if you are an undergraduate registering for Spring/Summer terms and wish to borrow a Federal Loan. You may also be asked to meet with an aid officer:

Visit this page for Federal loan borrowing limits