Student Financial Aid

2015-2016 Financial Aid Award Guide

Aid Disbursement

Direct Loan Disbursements

The Department of Education can electronically transfer (EFT) loan funds to UM. Loans disbursed by EFT can be credited directly to your student account. If this is your first Direct Loan at UM, you must complete an Entrance Interview before the funds can be released. To complete the Entrance Interview, please visit the Department of Education website.

Grants, Scholarships, and Perkins Loans

Financial aid funds cannot be disbursed until you enroll for the required number of credits and all required forms have been received and processed. If you enroll full-time, most grants, scholarships, and Perkins Loans will be credited directly to your student account 10 days before the first day of each semester. If you enroll part-time, your pro-rated aid will be credited to your account after the end of the Schedule Adjustment Period.

Federal Work-Study (FWS) Awards

Federal Work-Study awards will not be credited to your student account. If you accept a FWS award, you will receive a FWS Work Authorization form and information on how to find and apply for FWS jobs. Once you are hired by an eligible FWS employer, you will receive biweekly paychecks for the hours you work. These earnings may be used toward personal and educational expenses during the academic year. Current job openings are listed on our Federal Work-Study (FWS) website. For more information and job placement assistance, please call the FWS Program Office at 301-314-5302 or send email to

Remaining Charges & Financial Aid Refunds

If your total charges exceed your total financial aid, you must pay the balance by the due date listed on your bill (Bursar's Office). If your total aid exceeds your total charges, we will refund the excess funds to you by direct deposit or check.

We strongly encourage you to complete a direct deposit form so that your refund can be deposited directly into your personal checking account. A direct deposit form is available online.