Checklist for Disbursement of Financial Aid for 1Ls, Transfers, and New Borrowers
The following steps must be completed before your financial aid can disburse:
- If you have been awarded need-based grants, send us a signed copy of your 2012 federal tax return (1Ls only).
- After you receive your award notice, accept or decline your Stafford loan on Wolverine Access under Student Business > Financial Aid Information > Financial Aid Award Notices (select the 2014 aid year and go to accept/decline).
- Complete entrance counseling for federal loans on the StudentLoans.gov website.
- Complete the Master Promissory Note for federal loans on the StudentLoans.gov website. There are separate promissory notes for Stafford and Grad PLUS loans. If you are borrowing both, you will need to complete a promissory note for each one.
- You must also submit the Statement of Understanding.
- If you are expecting a financial aid refund check for living expenses, we strongly encourage you to sign up for direct deposit on Wolverine Access under Student Business > Payroll & Compensation > Direct Deposit. Direct deposit is usually more timely and accurate than waiting for a check through the mail, especially if you have not updated your address on Wolverine Access. If you do not sign up for direct deposit, your refund check will be mailed to the current address that is listed on Wolverine Access.
- If you need to borrow a Grad PLUS or private loan, a separate application is required. A comparison of different types of loans is available here. Since credit approvals expire, the earliest you should apply is June 1; we will begin processing applications on July 1, unless you are a summer starter, in which case you 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.
All of the required steps above should be completed at least two weeks prior to the beginning of the school year. Financial aid disburses at the beginning of each semester and weekly throughout the semester. Financial aid funds are applied to tuition first and, if applicable, on-campus housing charges. If you are expecting a refund for living expenses, the earliest you should expect to receive your check is by the first day of classes.
All information is strictly confidential. Please address inquiries to:
The University of Michigan Law School
Financial Aid Office
701 South State Street
South Hall, Suite 2200
Ann Arbor, MI 48109-3091