Understanding Your Offer

U-M begins notifying entering applicants (first-year and transfer students) about estimated financial aid in January if they have applied for aid. Applicants are notified on a rolling basis, as the Office of Financial Aid receives aid application information. Apply for aid early so we can estimate your financial aid before the May 1 enrollment deposit deadline.

• If you do not have a U-M uniqname and password, sign up for a University of Michigan "Friend" Account (guest) ID to view/print your Financial Aid Notice (and other documents, if requested) on Wolverine Access. To acquire a Friend Account ID, see the Using Wolverine Access page. If you do not have an email account and you are unable to view/print your Financial Aid Notice or other documents, you may contact us to request a paper copy.
• You might be asked to send additional documents to verify your aid eligibility. You will be sent notification that you have an Estimated Financial Aid Notice available. Submit the required materials by June 1 so that we can calculate a new financial aid package and send you an Official Financial Aid Notice. If you do not respond by the specified deadline date, your estimated package will be cancelled.
• Based on review of your additional documents, your notice may change and you will receive a message informing you that you have a Revised Financial Aid Notice. Revised notices replace any notices previously received.

The U-M Office of Financial Aid begins sending financial aid notification emails to continuing students each spring. If you are asked to submit additional documents, you can find them on Wolverine Access. After logging in, select Student Center > Financial Aid > Aid Year > Documents/Review.

Below is a description of a sample financial aid notice from U-M. When you receive your notice, read all pages including links that are part of your agreement to accept federal aid funds. Page 2 of the notice offers instructions about what to do next, details the cost of borrowing, and covers consumer information about the university.

Information from your financial aid application such as income, assets, family size, as well as residency status, program, and enrollment determines your eligibility for aid and what type of funding you will receive.

If any of the information listed on your notice is incorrect, contact the Office of Financial Aid and the appropriate university department to correct it.

Personal Information highlights include:

[A] Primary Career and Grade Level: This section includes your level (undergraduate or graduate/professional) and your school or college based on information from the Office of the Registrar.

[B] Residency Status: Residency at time of admission determines your tuition rate. Contact the Office of the Registrar at 734-764-1400 or visit the RO page on residency.

[C] Enrollment: We assume full-time enrollment for aid purposes; students must be enrolled at least half-time to receive aid. We will monitor your enrollment and changes may reduce or cancel aid, even after you receive your funds. See Required Reading for details.

[D] Estimated Cost to Attend

This section shows the estimated amount it costs to attend U-M for the period covered by your financial aid notice. This includes both what you must pay the university directly and what you will pay for related expenses (books, entertainment, transportation, etc.). 

Your actual expenses may vary; periodic student surveys determine personal costs and estimates of typical aid.

The estimated cost to attend includes:

• [E] Tuition & Fees as charged on your student bill
• [F] Housing and Meal Costs (on or off campus) and
• [G] Other Costs which can include books, supplies and personal expenses.

[H] Financial Aid Offer

This section lists your financial aid notices for each term. If you receive scholarships or grants (money that is not repaid), they will fall under the Gift Aid section. [I]. We subtract this from your cost to attend, leaving you with Your Cost to Attend [J].

The remaining sections in the financial aid notice offer you options for paying this amount and can include:

Work-Study: This federal program allows you to apply for Work-Study jobs and earn a paycheck to help you pay for college.

Loans: These are funds that students borrow from the federal government or other lenders. Loans must be repaid when students graduate or stop attending school. Federal loan repayment begins six months after you graduate, withdraw, or drop below half-time status. Borrow only what you need.

Other Resources: These can include VA benefits, third-party credits, or pre-paid tuition plans, among others.

Funding listed on your notice that does not include an asterisk (*) is funding you are receiving from another source. It is your responsibility to confirm this with the sponsor(s) and report any changes to the U-M Office of Financial Aid.

Your financial aid notice also includes a link to further instructions and certification that it is assumed you will read and understand, explaining your rights and responsibilities for accepting financial aid. 

You will receive an email from the Office of Financial Aid when you have a new or revised financial aid notice. Visit Wolverine Access and log in to view it.

Keep costs in mind

The double room rate used on your notice is less than the rate for a single room. If you choose a single room, you must cover the difference between the two. If you live off-campus, you could save money by having roommates.

We have tools to help

Visit Wolverine Access to estimate your student bill, calculate your loan eligibility, or find out how much to request under the U-M Payment Plan.

Log in at Wolverine Access and use the Financial Planning Calculators. Visit the Student Center and select Finances > Financial Planning Calculators to use these tools.

Keep in mind the four Cs that can bust your budget: cars, clothes, credit cards, and cell phones!