Student Financial Aid

2013-2014 Financial Aid Award Guide

How We Determine Your Eligibility for Aid

Cost of Attendance Budgets

Costs of Attendance Budgets are estimates of the educational expenses incurred by students during a nine-month academic year. These budgets include direct university charges (tuition, fees and on-campus room and board) and estimates of indirect expenses (transportation, books, supplies, miscellaneous living expenses and off-campus room and board).

Expected Family Contribution

The federal processor determined your Expected Family Contribution (EFC) by analyzing the income and asset data reported on your FAFSA. Your EFC represents the amount of money your family should be able to contribute to your educational expenses during the academic year. Your actual contribution will depend on the amount of financial aid you receive.

Financial Need

Your Financial Need is the difference between your Cost of Attendance and your Expected Family Contribution.

Example using 2013-2014 data:

  Cost of Attendance Budget:
- Expected Family Contribution:
- 10,872

= Financial Need:

We offer need-based aid to students who show financial need. Your total need-based aid, combined with any other aid you may receive, cannot exceed your financial need. Need-based aid includes Federal Work-Study, Perkins Loans, Subsidized Direct Loans, and need-based federal, state and university grants. Outside resources include UM tuition waivers/remission, Resident Assistant benefits, employer tuition benefits, vocational rehabilitation benefits, and private, state and university scholarships.

Students who do not demonstrate financial need may still be eligible to borrow non-need-based student loans and may also receive merit-based grants and scholarships.

FAFSA Corrections

Once the FAFSA processor receives your FAFSA, you are sent a Student Aid Report (SAR) which summarizes your FAFSA data. If you filed your FAFSA online and have your PIN, corrections may be made online. Your eligibility for aid is based on the information reported on your FAFSA and any additional information we collected from you.

If you need to correct your FAFSA data after we have awarded you financial aid, please contact a Financial Aid Counselor at 301-314-9000 or visit the Appeals Section of our website for additional information.

Special Circumstances

Your eligibility for aid is based on the income and asset data you reported on your FAFSA. If your income has decreased or if you have other special financial circumstances that were not taken into account on your FAFSA, you may qualify to have your financial need recalculated. For information on which types of circumstances qualify for recalculation, please complete the Special Circumstances Appeal Form.