Financial Aid Award Letter Package

Overview

The award letter is a list of the financial aid sources that you qualify for based on the information submitted on the FAFSA. This aid is outlined to demonstrate how freshmen families may qualify to cover the cost of a UDM education.

Scholarships & Grants - these funds are free and do not have to be paid back.

Loans - these funds must be paid back.

Federal Work-study - these funds are linked to a work program. They do not automatically count toward your bill. However, students can work to earn these funds and apply them toward their bill.

First Six (6) Steps

Our freshmen award packages are very generous and they are customized to fit each student's financial situation. Below you will find the first six (6) steps to paying for your UDM education.

Review section 1 of the "Easy As 1,2,3" worksheet (or Easy As 1,2,3 for Architecture and Engineering) and determine your cost for the year. Please plan ahead for books and supplies. UDM does not issue book vouchers.
Review your 2008-09 Award Letter. It outlines the financial aid funds that you qualify for, based on the FAFSA. These funds are to help you pay your cost.
Review the 2008-09 Financing Options sheet which summarizes the different loan programs found on the award letter. It also summarizes our 10 month interest-free payment plan option.
Complete section 2 of the "Easy As 1,2,3" worksheet (or Easy As 1,2,3 for Architecture and Engineering) to determine if you have any out of pocket cost.
Now that you have determined the financial aid sources that you would like to use, please place a check mark √ next to each source indicating "accept" or "reject". On the back of the Award Letter, there are three (3) boxes:
- Box 1 - You should sign and date this box;
- Box 2 - You must indicate a lender code. For your convenience, we have a list of lenders that some UDM students have used in the past ;
- Box 3 - If your parent is accepting the parent PLUS loan, then that parent should sign and date this box and complete the PLUS Master Promissory Note (MPN).
Using the enclosed postage-paid, self-addressed envelope, please return the following items:
- Award Letter. Return one copy, keep the second copy for your records;
- Master Promissory Notes for Perkins Loan and/or Parent (PLUS) loan, if the student and/or parent plans to borrow these loans;
- Federal Educational Right to Privacy Act (FERPA) form (optional);
- $150.00 enrollment deposit, if you have not already submitted it.

Note: The Stafford Loan Master Promissory Note (MPN) is not enclosed in this packet. See the "What Happens Next" section for instructions regarding the Stafford loan.

Award letter Guide

Abbreviation Key Chart

Acc - Accept
Alt - Alternative
Est - Estimated
Fed - Federal
Hr - Hour
MI - Michigan
Plus - Parent loan for undergraduate students
Rej - Reject
Res - Resident
Staf - Stafford
Sub - Subsidized

Definitions

Credit Hr. Range - the number of credit hours that this aid level applies to

Status - the classification that this aid level applies to

Term 1 - September through December aid to help pay term 1 cost

Term 2 - January through April aid to help pay term 2 cost

Term 3 - May through August aid to help pay term 3 cost

Total - total amount of aid to help pay terms 1, 2 and 3 cost