Application Process - Perkins and Stafford Loans

1. Apply for Admission to a degree granting program at UM.
   
   
2. Every January, complete the FAFSA Application Process.
   
   
3. The specific loans you are offered will depend on the following eligibility requirements:
   • Federal Perkins Loan: To be considered for a Federal Perkins Loan, you must submit your FAFSA by UM's Priority Deadline and demonstrate high financial need. Perkins Loan funds are limited and awards will be made on a funds available basis.
     
   • Federal Subsidized Stafford Loan: You must submit a FAFSA and demonstrate financial need.
     
   • Federal Unsubsidized Stafford Loan: You must submit a FAFSA, but you do not have to demonstrate financial need.
     
   
   
4. Once we have determined your eligibility, we will send you an Award Notification listing the amount of loans you are eligible to borrow from each loan program. To accept your awards, you must complete this Award Notification and return it to the Office of Student Financial Aid (OSFA).
   
   Accepting Perkins Loan Awards
   • If you accept a Perkins Loan award, the Bursar's Office will mail you a Perkins Loan Promissory Note and other required forms.
   • You must complete these forms and return them to the Bursar's Office.
   
   Accepting Stafford Loan Awards
   
   • On your Award Notification, you must indicate the amount of the loan(s) you want to borrow, your chosen lender, and the lender's code. For tips on choosing a lender, see Choosing A Lender.
   • We will transmit your loan request information to your chosen lender.
   • Your lender or their guarantee agency will send you a preprinted loan application.
   • You must complete this application and return it to the specified lender address. Please do not send your loan application to UM.
   
   
5. For tips on how to retain your eligibility for these loans, see Keeping Your Aid.
   
   
6. For information on how these loans are disbursed, see How Aid is Disbursed (Getting Aid).