The Office of Financial Aid at the University of Michigan-Ann Arbor would like to equip organizations with the option to submit scholarship payments by Electronic Funds Transfer (EFT). This will allow continued and efficient scholarship processing, while also reducing the number of in-person hours required to process payments – hopefully, in both our institution and yours! We encourage you to utilize this online EFT process.
Set Up Your Organization's EFT
The procedure to set up EFTs with the University of Michigan is twofold: First, you will need to set up the banking and account information, and second, you will need to contact our office when you submit a deposit.
Note: If you already submit payments to U-M using EFT, please ensure that you are also following the guidance as outlined below in Step #2.
1. Establish an EFT Account with the University of Michigan-Ann Arbor
Please email finaid.EFT@umich.edu with your request to set up an EFT account. Most organizations have an existing EFT certification form for the receiving institution to complete and this template form for the university should be attached for us to complete at the time of your email request. If you do not have an existing form, please note this in your request email.
Once your paperwork/request has been completed by our office, we will reply to your email request with the appropriate account information for EFT payments.
2. Notify the University of Michigan
When you submit an electronic payment to the University of Michigan-Ann Arbor, please send a supplemental email to both finaid.EFT@umich.edu and firstname.lastname@example.org with the following information:
- Name of organization
- Date payment sent
- Student name(s)
- Student U-M ID number(s)
- Amount of the scholarship
- Term in which payment should be applied (i.e. fall term, winter term, or full academic year). Unless otherwise noted, U-M will apply funds to the full academic year, dividing them equally between the two standard academic year terms.
Once your organization is set up to complete EFTs with the university, this online process should serve to streamline scholarship payments to the U-M – now and in the future. Please note that the email address of finaid.EFT@umich.edu is specific to EFT requests and notifications.
We will continue to process physical checks for organizations that are unable to use the EFT option. Payments received in this manner may experience some delay.
If you have additional questions related to outside scholarships and financial aid, please contact our office at email@example.com. Thank you.