FAQs: After You Apply (Required Reading)

Here are some of the most common questions we hear from students after they have submitted their financial aid applications.

How is aid awarded?

You’ll receive notification of your financial aid package via email, with instructions on how to view the aid offer on Wolverine Access, U-M’s student portal.

Financial aid can include Federal Direct Unsubsidized Stafford Loans, institutional and/or other federal loans, scholarships and institutional grants to the extent of your eligibility, or a combination of any of these.

When will I receive my financial aid package?

Medical students are able to view and print their financial aid award notices in Wolverine Access. You’ll get an email when you have an award notice available to view.

Disbursement dates are available on our timeline.

Can I appeal a decision?

Yes, however we encourage you to share as much information as you can about your individual circumstances up front. Our team has over 90 years of combined experience in helping students find the financial aid solutions that work best for them.

If you have questions or concerns about a financial aid policy or decision, or you want to present special circumstances in your case, you may appeal to a financial aid officer in writing.

If the situation can’t be resolved, it will be referred to the Financial Aid Director.

If you are questioning a financial aid policy and there are no unusual circumstances, or you’re dissatisfied with a policy, the Director will consult with the Assistant Dean for Student Services to determine next steps.

How do I cancel a loan if I decide I no longer need it once it’s been offered?

Students may cancel (decline), or reduce, any loan in their financial aid package through Wolverine Access.

See Fund Disbursement for more details.

What are the terms and conditions of a financial aid offer?

When you accept the offer of financial aid specified in your Financial Aid Notice, you agree to accept and fulfill all of the following responsibilities, including the terms and conditions set by the federal regulations for financial aid:

  1. Additional Assistance. If you received additional funds not listed on your Financial Aid Notice, report them immediately to the Medical School Financial Aid Office in writing, even if the office making the award will notify us directly.
  2. Previously Received Title IV Aid. You must not be in default on any federal educational loans, or owe any refunds on federal grants received at any post-secondary institution.
  3. Use of Funds. You may use funds listed on your Financial Aid Notice only for educationally related expenses incurred at the University of Michigan Medical School for the academic year in which the aid was provided.
  4. Enrollment Requirements. As a rule, you must be enrolled full-time to receive financial aid. Full-time for medical students is at least 12 credit hours per term. Students enrolled less than full-time but at least half-time will have their budget reduced accordingly. Students enrolled less than half-time are reviewed individually. If you withdraw or are asked to withdraw from medical school, you must inform the Financial Aid Office immediately. If you received a federal student loan, you must arrange for an exit interview by contacting the Financial Aid Office. Depending on when you withdraw, you may have to repay all or part of the aid you receive. See Tuition Refund Policies.

When will I receive my aid?

Financial aid is paid (disbursed) to you no sooner than the beginning of each semester. Students will get their aid approximately two weeks after they have:

  • Responded to all requests for additional information.
  • Enrolled for a credit hour load that is at least half-time and started attending classes.
  • Completed and signed all applicable promissory notes.

What if my aid exceeds my tuition and fee charges?

Students whose financial aid exceeds the charges on their University Student Account will receive a refund to pay other educationally related expenses.

You may choose to have these excess funds deposited directly into your personal bank account or mailed to your local address on file in Wolverine Access.

What is Satisfactory Academic Progress and how does it affect my financial aid?

Satisfactory Academic Progress (SAP) is the term used to describe a student’s successful completion of coursework toward a degree or certificate.

All students receiving federal student financial aid must adhere to the Policies and Procedures for Medical Student Evaluation, Advancement and Graduation, located in the UMMS Bulletin, approved by the University of Michigan Medical School Executive Committee yearly in order to maintain SAP.

The normal timeframe for completion of required coursework for the M.D. degree is four academic years. Due to academic or personal difficulties, a student may need more time. We evaluate these situations on a case-by-case basis.

To qualify for Satisfactory Academic Progress for financial aid eligibility, the student must complete the pre-clinical phase of the curriculum by the end of the third year after initial enrollment and clinical coursework within three years of beginning the clinical phase. The maximum time permitted for federal financial aid eligibility is six years.

What if I have a financial emergency while I’m in school?

We understand that students may experience unanticipated and unexpected financial emergencies.

If you find yourself in this situation, we encourage you to contact our financial aid counselor as soon as possible. Our office has limited funding available to help students in specific situations.

What if I take a leave of absence or withdraw from school?

Medical students who withdraw or drop credits will have their tuition charges adjusted and may have to refund financial aid dollars to the appropriate Title IV student aid sources, as required by federal law.

Medical School policy dictates that all financial aid recipients must meet with a financial aid officer before leaving the school for an approved Leave of Absence, withdrawal or dismissal.

Students who know they may need to leave school should meet with a financial aid officer to determine the appropriate refund amount. Tuition Refund Policies are explained here.