The Office of Student Account Services sends bills out approximately two months prior to the beginning of classes each term. Students may pay or sign the attached promissory note to defer payment where loan programs are expected to cover the costs. The promissory note must then be returned to Student Accounts at the address indicated on the bill by the due date. If only part of the costs is to be covered by external loans, students should include a check for the balance due with the promissory note.

Loan Proceeds

Loan proceeds may be disbursed in the form of a check or by electronic funds transfer. If checks are disbursed, the student must go to the cashier's office to endorse them for deposit into the student's account. If the funds are sent electronically, the student must sign an authorization form for the release of funds to the student's account.

Deferred Payment

Students who have applied for loans, and who have received an award notification indicating eligibility for those loans, may defer payment, if the funds have not arrived by the payment due date. This deferment will not be subject to finance charges until after the "deferment due date," allowing several weeks for funds to arrive without additional penalty to the student.

Overage Checks

Students who are receiving financial aid in excess of that owed the University, will receive the overage about one week after signing the checks or authorization for funds.

Short Term Loans

Students may obtain short term loans if their loan proceeds, in excess of any outstanding balance, has not arrived. These short-term loans are interest-free for up to a maximum of 90 days and must be repaid within that time frame or they will accrue interest. If during this period the student receives financial aid loans, the outstanding short term loan will be deducted from the financial aid funds. No additional emergency funds will be approved if the student still owes on a previous short-term loan. The amount of the loan will depend on the availability of funds, but generally is limited to $1000.

Finance Charges

The University assesses finance charges on unpaid student account balances after a "deferment due date."

Summer Financial Aid

Students requiring aid for the summer terms will need to borrow from the federal programs to cover their costs. Since the cost of education for the summer is much less, there is little, if any, need to borrow from the alternative loan programs. The subsidized and unsubsidized Federal Stafford Loan programs will usually cover the student's expenses. Students may apply their merit scholarships towards their tuition for one semester of summer enrollment, including study-abroad.

Summer Federal Work-Study Program

Federal Work-Study is available to students in the summer for a maximum award of $1,500. Students must demonstrate need in the academic year financial aid application process and complete the application for Federal Work-Study by April 1. Most positions are with off-campus employers in nonprofit legal service agencies.

Summer Abroad Programs

Students may borrow to cover the cost of summer abroad programs.

Consortium Agreements

The Financial Aid Office processes aid for UM students attending law school elsewhere on a visiting basis. Federal law requires that we enter into consortium agreements with the visiting schools to ensure compliance with enrollment verification and other federal requirements. Students requiring this service should apply early to ensure timely receipt of funds. Students visiting UM School of Law from other institutions must have their request for financial aid processed by their home institutions.