Financial Aid Tips and FAQs
Tips for New and Current Students
Important factors regarding federal loan funding:
- Enrollment: You must be enrolled in at least half-time status to be eligible for federal loan funding.
- Disbursements: Loan disbursements will be made no sooner than 10 days prior to the start of classes for the session in which you have reached half-time status.
- Pell Grant updates: If you are eligible for a Pell Grant, your grant award will be based on your active enrollment registration. Pell grants will be updated throughout the semester to reflect your enrollment.
Frequently Asked Questions
I just submitted the last checklist item on my "To Do" list in MyUMUC. When can I expect my financial aid review to be complete?
A review will occur within 7-10 business days after all of the items on your checklist have been completed.
Loan disbursements will be made no sooner than 10 days prior to the start of your active half-time enrollment for the semester. Example: You are an undergraduate student enrolled in two 3-credit courses. One class starts January 26, 2014; the other starts March 21, 2014. Provided that all paperwork and checklist items have been completed, your loans should disburse 10 days prior to March 21, the official day that you become actively enrolled as a half-time student.
Your Pell Grant will be updated throughout the semester, approximately a week after sessions begin. Example: You may find that your current Pell Grant is based on half-time status, but you are registered full-time. Once your classes begin later into the semester, we will update your Pell Grant to reflect your active enrollment status.
Yes. If you are eligible, you can receive a book voucher for your classes. The voucher application is available via MyUMUC.
If you may be graduating at the end of the fall semester, please contact Graduation Services to have your graduation date updated. Once the date is updated, you may submit a case through help.umuc.edu to alert the Financial Aid Office of this recent update. We will then review your account and eligibility for a fall award only.