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Financial Aid information for Degree Applicants

Your expected graduation term and financial aid

Your expected graduation term is recorded on your student record as the semester you plan to finish your undergraduate degree. As a student who has received financial aid at the University of Minnesota, Morris, the accuracy of your expected graduation term is important because it prompts the following two actions related to your financial aid.

Financial aid for future terms is canceled

One month before the end of your expected graduation term, any financial aid awarded you for terms that begin after your expected graduation term will be canceled regardless of your future enrollment status. A notice will be sent to your University student e-mail account to inform you of the cancellation. If your graduation is delayed, be sure to promptly update your expected graduation term to avoid having your financial aid awards canceled.

Loan exit counseling session is required

Before you graduate, you must participate in a loan exit counseling session and complete any required paperwork if you've borrowed from any of the following loan programs:

  • Federal perkins Loan
  • Ford Federal Direct Subsidized and/or Unsubsidized Loan

During the loan exit counseling session you will be provided with your borrower rights and responsibilities as well as those of the lender. There will be an opportunity to have your questions answered on loan repayment, deferment, and conditions that qualify for cancellation of your loans.

Attention Federal Perkins Loan borrowers: You are required to complete paperwork for your loans before you graduate or a hold will be placed on your record. Repayment of a Perkins Loan is done through the Twin Cities campus. You are encouraged to complete your exit counseling by contacting Student Financial Collections on the Twin Cities campus at 612-625-8007 or stdtloan@umn.edu.

Federal Direct Loan Exit Counseling

You may satisfy the Direct Loan exit counseling requirement online by reading information about Direct Loans and passing a brief quiz. It should take approximately 20 minutes to read the information and take the quiz. You will need your U.S. Department of Education Personal Identification Number (PIN) to complete the session online. Once you have successfully passed the quiz, request that a confirmation be sent to the Financial Aid Office at the University of Minnesota, Morris.




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