Use this page to understand the steps in processing your financial aid. Check your “Financial Aid Status” often at the Morris One Stop Student Services site.
You will receive a request from the school for additional documentation by mail or email if anything is required. Step 2 must be completed before you can receive and “official” award of financial aid.
Your Financial Aid file may remain at step 3 for an extended wait while the University’s Board of Regents finalizes the cost of attendance for the new year. Once the review process is completed, you will be offered a package of financial aid awards that is as favorable as possible given the University of Minnesota, Morris’s resources and your financial situation.
What is an eFAAN?
The eFAAN is your “official” offer of financial support from the University of Minnesota, Morris. It lists the financial aid you may be eligible to receive to attend full-time for one academic year (fall and spring semesters). The total aid is divided equally between semesters, one-half for fall expenses and one-half for spring expenses.
You will receive a University email/postcard with instructions that your eFAAN is available online. Your grants and scholarships will be accepted for you by the school. If you have been awarded Estimated Federal Work-Study Eligibility you will need to accept or decline your award. Also, if you have been awarded any Federal/Alternative loans you will need to accept, decline or reduce your loans.
Once you have accepted your Federal loans you may need to wait 24 hours before completing Step 5.
If you accepted Federal loan(s) you will need to complete all required promissory notes, counseling and disclosures before the loans can be disbursed. A promissory note is the legal agreement that you will repay your loan(s).
Parents wishing to borrow a PLUS loan need to complete the PLUS Active Confirmation Form, and complete the PLUS Master Promissory Note before the funds will disburse to your student’s account.
If you accept an alternative loan you will need to complete all necessary Alternative Loan documents required by the lender you have chosen.
Disbursement is the process by which financial aid funds are transferred into your student account to pay your bill. The amount transferred depends on your award, credits and no financial holds on your record. You will be sent a University email indicting that your financial aid has passed to your student account.
If you have sufficient financial aid funds to pay off your student account, you will receive a credit balance. If your financial aid doesn’t cover your balance due, you will receive an UMM electronic bill via your University email account.
Provide routing information and authorize the University to send your credit balance electronically.