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    Official 2020-2021 Financial Aid Notice: Estimated Cost To Attend U-M

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    Dequan Gambrell
    The document is a financial aid notice from the University of Michigan for student Dequan Gambrell. It outlines the estimated total costs of attendance, gift aid being offered that does not need to be repaid such as grants, the remaining costs, and federal work-study. It also lists subsidized direct loans being offered and indicates that with all the financial aid, the estimated cost to attend would be $0. It provides next steps such as accepting, declining, or reducing aid and explains additional borrowing options.

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    Official 2020-2021 Financial Aid Notice: Estimated Cost To Attend U-M

    Uploaded by

    Dequan Gambrell
    62 views2 pages
    The document is a financial aid notice from the University of Michigan for student Dequan Gambrell. It outlines the estimated total costs of attendance, gift aid being offered that does not need to be repaid such as grants, the remaining costs, and federal work-study. It also lists subsidized direct loans being offered and indicates that with all the financial aid, the estimated cost to attend would be $0. It provides next steps such as accepting, declining, or reducing aid and explains additional borrowing options.

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    MFAFANLTROFA

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    The document is a financial aid notice from the University of Michigan for student Dequan Gambrell. It outlines the estimated total costs of attendance, gift aid being offered that does not need to be repaid such as grants, the remaining costs, and federal work-study. It also lists subsidized direct loans being offered and indicates that with all the financial aid, the estimated cost to attend would be $0. It provides next steps such as accepting, declining, or reducing aid and explains additional borrowing options.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    62 views2 pages

    Official 2020-2021 Financial Aid Notice: Estimated Cost To Attend U-M

    Uploaded by

    Dequan Gambrell
    The document is a financial aid notice from the University of Michigan for student Dequan Gambrell. It outlines the estimated total costs of attendance, gift aid being offered that does not need to be repaid such as grants, the remaining costs, and federal work-study. It also lists subsidized direct loans being offered and indicates that with all the financial aid, the estimated cost to attend would be $0. It provides next steps such as accepting, declining, or reducing aid and explains additional borrowing options.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    OFFICIAL

    2020-2021
    Financial Aid Notice

    Student name: Dequan Gambrell UMID: 20881052

    Primary Career and Grade Level: Undergraduate L S & A, Junior Enrollment assumption: Full-time

    Residency status: Non-Michigan Resident Date: 07/30/2020

    Below is the financial aid package being offered to you by the University of Michigan-Ann Arbor. This notice gives details about the cost of
    attending U-M, aid offered and remaining costs that can be met through loans or other personal and private sources of funding. Information
    about how to accept or decline parts of your financial aid and your responsibilities in accepting federal financial aid are found in Required
    Reading (finaid.umich.edu/Publications).
    In order to receive financial aid, a student must make Satisfactory Academic Progress (finaid.umich.edu/SAP) toward a degree. If a
    student does not meet SAP, it will affect this aid offer. U-M Regents set tuition and fees each year in June, which may affect this aid offer.
    If this changes, you will receive a Revised Financial Aid Notice.

    TERMS: Fall 2020 Winter 2021 TOTAL


    Estimated cost to attend U-M
    (finaid.umich.edu/Cost):
    • Tuition & Fees based upon: Non-Michigan Resident $27,964 $27,964 $55,928

    • Housing & Meals (either on-campus or off-campus) $6,017 $6,017 $12,034

    • Other Costs (books, supplies, personal expenses) $1,751 $1,751 $3,502

    TOTAL COST $35,732 $35,732 $71,464

    Financial Aid Offer

    Gift Aid (DOES NOT require repayment):


    • * UNIVERSITY OF MICHIGAN GRANT $15,587 $15,588 $31,175

    • * PROVOST'S AWARD $11,972 $11,972 $23,944

    • * FED PELL GRANT $3,173 $3,172 $6,345

    • * FED SUPP EDUC OPPORT GRANT $750 $750 $1,500

    YOUR COST TO ATTEND LESS GIFT AID $4,250 $4,250 $8,500

    Work-Study (earned wages, not applied to student billing account):


    • * FEDERAL WORK STUDY $1,500 $1,500 $3,000
    Visit https://studentemployment.umich.edu to apply.

    Loans (must be repaid):


    • * FED SUBSIDIZED DIRECT LOAN $2,750 $2,750 $5,500
    For previous Direct Loan recipients, funds will be disbursed unless
    declined.

    YOUR ESTIMATED COST IF USING ALL AID OFFERED $0 $0 $0

    NEXT STEPS AND BORROWING OPTIONS:


    • Read Financial Aid Notice Instructions and Certification (finaid.umich.edu/AwardCertification).
    • View/download Required Reading (finaid.umich.edu/Publications) for terms and conditions of your aid.
    • For descriptions of financial aid programs, visit Financial Aid Terms and Definitions (finaid.umich.edu/Definitions).
    • Decline or reduce aid by using the accept/decline aid button in Wolverine Access (wolverineaccess.umich.edu). We assume you
    are accepting all aid offered unless you decline. If you are a previous Perkins or Direct Loan recipient, loan funds will be disbursed for
    the terms indicated unless you decline them.
    • Research scholarship opportunities (finaid.umich.edu/scholarships-at-u-m).
    • Using Wolverine Access, advise us of scholarships, assistantships or prepaid tuition plans not listed on this notice. Items
    without an asterisk (*) are from non-Office of Financial Aid sources. Confirm or decline these with the fund provider and report any
    inaccuracies.
    • Explore other borrowing options. Federal PLUS loans (finaid.umich.edu/PLUS) are available to parents of dependent
    undergraduates or graduate students who need additional resources. Apply for these loans separately starting in mid-May. We
    encourage students to monitor their overall borrowing and consider other options to borrowing, when possible. Visit finaid.umich.
    edu/smartborrowing.
    • Sign a Master Promissory Note (MPN) and complete Entrance Counseling if you are borrowing a federal Direct Loan or Perkins
    Loan for the first time at U-M. For Direct Loans, sign your MPN and complete Entrance Counseling at studentloans.gov. For Perkins,
    Nursing and Health Professions loans, visit the Student Business section of Wolverine Access (wolverineaccess.umich.edu) to
    complete your loan documents.
    • How do I get my aid? Financial aid is disbursed weekly after classes begin to students who are enrolled at least half-time in an
    approved degree program. (Wait-listed courses and not-for credit courses do not count toward enrollment for aid purposes.) For terms
    and conditions of accepting financial aid, visit finaid.umich.edu/Terms.

    THE COST OF BORROWING:


    Some borrowing may be necessary and will help you pay for college, but loans must be repaid and will only defer payment of educational
    expenses. More information about borrowing and budgeting for college can be found at:

    • Financial Awareness Counseling Tool (studentloans.gov)

    • Financial Literacy and other Resources (finaid.umich.edu/CompareCollege)

    • Your Money, Your Life (U-M Office of Financial Aid) (http://sites.google.com/a/umich.edu/your-money-your-life)

    CONSUMER INFORMATION AND COLLEGE COMPARISONS:


    Consumer information (finaid.umich.edu/about-us/consumer-information/) about U-M and links to comparative data

    CONTACT US WITH QUESTIONS:


    U-M Office of Financial Aid • 2500 Student Activities Building, 515 E. Jefferson St. • Ann Arbor, MI 48109-1316
    Phone: 734-763-6600 • Web: finaid.umich.edu • Email: [email protected]

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