First-Year Students
Financial Aid
For many students, college means managing your personal finances to a greater
degree. Financial planning, financial aid, and work opportunities can help you make
the most of your time and money.
Tuition and Billing
To begin planning, know that tuition and fees for 2008–08 will be determined in July; visit onestop.umn.edu for the final rates. Your billing notice for fall semester tuition will be sent to your University e-mail account in early September and is due October 3. You can pay all at once, or for a small fee, pay up to three installments during the semester.
Wondering if you qualify for financial aid? The only way to know is to apply!
Complete the Free Application for Federal Student Aid (FAFSA) available at www.fafsa.ed.gov or call 1-800-4-FED-AID (help line). If you have not already submitted your FAFSA, apply as soon as possible.
Award Notices
The first estimated Financial Aid Award Notices (FAANs) will be mailed in March. If your FAFSA was received by March 1, you should receive a paper FAAN with estimated awards in time to review the aid well before May 1, which is the deadline to confirm your enrollment. During the summer, after tuition rates are finalized, you will receive a notice in your University e-mail account directing you to your official electronic FAAN (eFAAN) so you can respond to your award offers online.
Private Scholarships
If you are receiving a private scholarship, ask the donor to send notification of the award, including the name of the scholarship award and dollar amount to the Office of Student Finance.
First-time Borrower?
If you are a first-time borrower, you will also be required to complete a promissory note for your loan(s) after you respond to your eFAAN.
Disbursements
Financial aid is scheduled to be disbursed during the first week of classes.