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Financial Aid

As of July 02, 2020, our office will be closing at 2:00 pm and will be back on Monday, July 6, 2020 to respond to any correspondence at that time. 

Drop in Advising hours are temporarily suspended until further notice. Please reach out to Ross Financial Aid through email at rossfinaid@umich.edu.  Be sure to include or have ready your 8 digit UMID number. Phone or video chat appointments can be scheduled via email request.

Important Announcements:

Your eight-digit UMICH ID number is required on all documents submitted to our office. Instructions

Navigating Your Student Account Information.

Refunds:  The first Winter 2020 direct deposit refunds to Ross School of Business students should be available on or after January 13, 2020. Checks are mailed to students without direct deposit to their current address in Wolverine Access. Mail delivery dates cannot be confirmed. 

Be sure to have direct deposit set up via Student Business in by Friday, January 3, 2020.  You will also need to make sure that your current address on file is up to date.  

Read the Office of Financial Aid Newsletter for important tips and information.  Previous newsletters can also be found at this web link.

 

 

2020 - 2021 Federal Loan Fixed Rates:  

Federal Direct (Stafford) Loan - Unsubsidized   4.30%
      Unsubsidized loan origination fee  1.059%
Federal Direct Loan - Graduate PLUS  5.30%
      Graduate PLUS loan origination fee  4.236%

The fixed interest rate for the Federal Direct Loan - Unsubsidized and Graduate PLUS are for loans disbursed on or after July 1, 2020.

Origination fees are for loans originated from October 1, 2019 through the end of September 2020

Spring / Summer Financial Aid:

All continuing students who wish to borrow federal loans for the Spring/Summer term must complete the Spring/Summer Request for Financial Aid Form

For our continuing EMBA, Evening, Online and Weekend MBA students: The Spring/Summer 2020 financial aid is based on the 2019 - 2020 FAFSA.  If you have already submitted this FAFSA and would like to receive your Unsubsidized loan ($10,250) for Spring/Summer 2020 than you will need to complete the 2020 Spring/Summer Request for Financial Aid Form.  

In addition to the Spring/Summer 2020 Unsubsidized loan, if you wish to borrow the Grad PLUS Loan during the upcoming Spring/Summer term, than you must complete a new Grad PLUS loan application request under the 2019 - 2020 academic year.  If you are planning on applying for a Private loan for Spring/Summer we suggest that you complete your application before end of March, to allow enough time for processing.

 

 

 

 

 

Contact Information

Ross Financial Aid Office Location:

Kresge Hall, Third Floor, Room K3521

700 East University, Room K3521
Ann Arbor, MI 48109-1234

At this time, please contact by email: rossfinaid@umich.edu. Be sure to included your UMID number.
Phone: 734-764-5139
Fax: 734-764-2129

Drop-In Advising Hours:

Temporarily  suspended

Monday, Wednesday, and Friday

10:00 AM - 11:00 AM

Tuesday and Thursday

1:30 PM - 2:30 PM
 

Ross Financial Aid Staff:

Michelle Gurski
Assistant Director

Barbara Stevens
Financial Aid Coordinator

Free Application for Federal Students Aid

  • 2020 - 2021 FAFSA is NOW available.
  • Check out the FAFSA filing instructions here.
  • See Federal Student Aid (FSA) ID information here.
  • How often and when you complete the FAFSA is based on your academic program.  See additional details here.

 

Direct Deposit

Wolverine Access

We recommend all students set up direct deposit via Wolverine Access > Student Business > Payroll and Compensation > Direct Deposit  Without direct deposit, refunds will be mailed to your current address in Wolverine Access. Be sure your current address is updated.

Navigating in Wolverine Access Instructions

Required Reading

Required Reading is the reference and resource guide for students who are awarded financial aid at the University of Michigan. We call it Required Reading because it answers many questions students ask about their financial aid and provides information you must know in order to receive financial aid at U-M. You are expected to read it in order to understand the rights and responsibilities that go along with receiving your aid.