Application Process and Deadlines

If you plan to apply for financial aid, we encourage you to begin the process as early as possible to ensure full consideration and early notification. To be considered for financial aid through the Ross School of Business, provide the following documents (U.S Citizens and Permanent Residents only):

• The Free Application for Federal Student Aid (FAFSA)

• This document is available on the web at http://www.fafsa.ed.gov. Fill out the form for the school year 2005-2006, beginning January 3, 2005 and by March 1, 2005, (or a Renewal FAFSA if you filed a FAFSA in the previous year - your PIN is required to access renewal data), using information about yourself and your spouse; do not include information about your parents. Be sure to print a copy of the application information for your records, and ensure that you actually submit the application. You should receive a confirmation number; please write it down (tax return documents are needed to provide some income and asset answers; please consider completing your tax returns early rather than later during the filing timeframe).

  If you choose to complete a paper copy of the FAFSA, include the University of Michigan Federal School Code #002325. Mail the application directly to the processing agent in the envelope provided or to the address indicated on the form. Mail it at least five weeks before the deadline to allow for processing. (Processing takes 4-6 weeks by mail and 2 weeks via the web.)

  After your FAFSA has been received and processed, the Graduate Financial Aid Office at the Ross School of Business will receive your results electronically from the processing agent. You will receive a Student Aid Report approximately two to four weeks after submitting the FAFSA. Verify the FAFSA was processed by locating the "EFC" in the upper right hand corner. If it is blank, your FAFSA has not been processed and more information may be required. Please verify your Social Security Number and that the University of Michigan is listed. If you are required to register with Selective Service, as indicated on the Student Aid Report, please do so now. Failing to do so may jeopardize your ability to receive financial aid.

• 2004 Federal Income Tax Return

  In addition to the FAFSA, applicants need to submit a signed copy of their 2004 Federal Income Tax Return (and spouse's return if applicable) with all W-2 Forms and Schedules directly to the Graduate Financial Aid Office at the Ross School of Business. The deadline for submission of tax returns is April 30, 2005. This information is used to verify the information the applicant reports on the FAFSA. Failing to submit required tax documents will delay the processing of your aid award.

• Application Complete Status

  Your application is considered complete when the Ross School of Business Graduate Financial Aid Office has received all the materials noted above. Official award notices will be sent by email beginning in June (assuming you met deadline requirements). We will continue to consider applications received after the deadlines if funds remain available.

• Award Notice Process

  After you receive your official award notice, additional materials (promissory note information, etc.) will be made available to you. These items, beginning in July, must be completed in order to secure specific federal loan funding.

  Please note that the University is an institution that participates in the Federal Direct Student Loan (Direct Loan) Program. As a result, all application forms for loan packages sponsored by the Federal Government (Direct or Perkins loans) will be originated from the Ross School of Business Graduate Office of Financial Aid. With the Direct Loan program, the University works with the Federal government to determine an applicant's loan eligibility, processes the loan and delivers the funds directly to the applicant. You do not need to contact lending institutions directly for Federal loans, as the School will not certify these applications. For Direct or Perkins loans, the FAFSA (or renewal FAFSA) is the only form needed to apply for these loan programs.

  For privately funded loans, applications received directly from lenders are acceptable and appropriate.

  Home equity loans are also available through most lending institutions, which students with homes may wish to consider.

• Financial Aid Questions?

  Stephen M. Ross School of Business
  University of Michigan
  Graduate Financial Aid Office
  701 Tappan Street, Room D2260
  Ann Arbor, Michigan 48109-1234
  Phone: (734) 764-5139
  Fax: (734) 763-7804
  E-Mail: rossfinaid@umich.edu