1L: Applying for Financial Aid 2013–2014
There is no financial aid deadline for entering 1Ls and all information is strictly confidential.
There are three types of financial aid for which you may qualify: merit-based scholarships (both outright and competing), need-based grants, and loans.
· Admitted students are automatically considered for merit-based scholarship decisions, and no separate application is required. We begin processing merit scholarships in late November; by mid-January, we are caught up with awards for offers made through the end of the year, and from that point through the end of the season, a merit offer, if any, is made within about two weeks of an offer.
· Need-based grant decisions are made by the Financial Aid Office. To determine if you might qualify for need-based grants, admitted students must complete our simple online questionnaire, available in mid-February, on the Admitted Students website. Click on Mail & Money and Financial Aid Application to access the questionnaire. If it appears that you may be eligible for need-based grants after completing the questionnaire (available in February) we will direct you to complete additional financial aid information on the 2013-14 Need Access form to assist us in determining your available resources. Because at Michigan, parent information is not required to apply for aid, we will disregard the data if you have completed the parent information for another school. Please note that we will not look at the Need Access form until after you first complete our form; completing the Need Access form alone is not sufficient to be considered for need-based aid.
· In cases where no merit scholarships or need-based grants have been offered, the Financial Aid Office is occasionally able to take financial aid offers from competing schools into account. Please contact us for further information.
· Loans are processed in the Financial Aid Office beginning in March.
•To apply for Stafford loans, students who have been admitted for either summer or fall should:
•Complete and submit a 2013-2014 Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov. Your (and, if applicable, your spouse's) information must be recorded on the FAFSA. Please note that you do not need to provide parental information.
•Request that a copy of the FAFSA report be released to the University of Michigan Law School, code # E00506. (Note that the rest of the University of Michigan uses a different number.) Be sure to retain a copy of the completed form for your records.
•Complete the IRS Data Retrieval Process, which is an option on the FAFSA application to import your tax information directly into the FAFSA. You can take advantage of this option if you filed your tax return electronically at least 2 weeks before completing the FAFSA, or 6-8 weeks after filing a paper tax return. You are strongly encouraged to use this option if it's available to you; it will save you time, and possibly aggravation, down the road. If you file your 2013-14 FAFSA with estimated information because you had not yet filed your 2012 tax return, we recommend that you file your tax return electronically, wait two weeks, and then do a FAFSA correction, requesting the Data Retrieval Option at that time.
•You may wish to apply separately for a Grad PLUS or private loan in addition to Stafford loans, depending on your budget and assets. (For advice about that, please feel free to contact us.) A comparison of different types of loans is available on our loan comparison chart/FAQ [PDF]. Since credit approvals expire, the earliest a fall starter should apply is June 1, while summer starters can apply as early as March 1. If you borrow a Grad PLUS loan, please be sure to complete the school's Grad PLUS loan application, and not the one on the StudentLoans.gov website.
•Enrolling students with Stafford loans must complete entrance counseling as well as complete the Master Promissory Note, both available on the StudentLoans.gov website. Please note that there are separate promissory notes for Stafford and Grad PLUS loans and if you are borrowing both, you will need to complete a promissory note for each.
Questions? Please email, call, or make an appointment to visit!
The University of Michigan Law School
Financial Aid Office
701 South State Street
South Hall, Suite 2200
Ann Arbor, MI 48109-3091