{"id":59,"date":"2020-12-02T18:05:49","date_gmt":"2020-12-02T18:05:49","guid":{"rendered":"https:\/\/www.umflint.edu\/finaid\/?page_id=59"},"modified":"2025-11-25T07:53:10","modified_gmt":"2025-11-25T12:53:10","slug":"loans","status":"publish","type":"page","link":"https:\/\/www.umflint.edu\/finaid\/types-of-aid\/loans\/","title":{"rendered":"Loans"},"content":{"rendered":"\n<div class=\"wp-block-umflint-templates umflint-template-default\">\n<div class=\"wp-block-cover is-light\" style=\"margin-bottom:var(--wp--preset--spacing--40);min-height:50px;aspect-ratio:unset;\"><img decoding=\"async\" class=\"wp-block-cover__image-background wp-image-371\" alt=\"\" src=\"https:\/\/www-s3.umflint.edu\/wp\/blogs.dir\/61\/files\/2025\/03\/Blue.UCEN_.jpg\" data-object-fit=\"cover\"\/><span aria-hidden=\"true\" class=\"wp-block-cover__background has-background-dim-0 has-background-dim\" style=\"background-color:#FFF\"><\/span><div class=\"wp-block-cover__inner-container has-global-padding is-layout-constrained wp-block-cover-is-layout-constrained\"><div class=\"wp-bootstrap-blocks-container container mb-2\">\n\t\n\n<h1 class=\"wp-block-heading has-secondary-color has-text-color has-link-color wp-elements-19a099dc5b9cbae4c6196c56a31e383e\" style=\"padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);font-size:clamp(31.152px, 1.947rem + ((1vw - 3.2px) * 1.863), 55px);font-style:normal;font-weight:600;text-transform:uppercase\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-secondary-color\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-secondary-color\">Loans<\/mark><\/mark><\/h1>\n\n\n<div class=\"wp-bootstrap-blocks-row row\">\n\t\n\n<div class=\"col-12 col-md-4\">\n\t\t\t\n<a\n    id=\"block-block_0ffadac5f64ae4d2ffa28e1063435385\"\n    class=\"btn mb-3 d-inline-flex btn-icon bg-secondary\"\n    href=\"https:\/\/www.umflint.edu\/NetPriceCalculator.html\"\n    title=\"Financial Aid Calculator\"\n    target=\"\" >\n            <span class=\"btn-icon-image\">\n            <i class=\"fas fa-dollar-sign\" aria-hidden=\"true\"><\/i>        <\/span>\n        <span class=\"btn-icon-text\">\n            Financial Aid Calculator        <\/span>\n    <\/a>\n\n<a\n    id=\"block-block_8bb7b6be3f5cb53f78fb56d395b3563d\"\n    class=\"btn mb-3 mb-md0 d-inline-flex btn-icon bg-info\"\n    href=\"https:\/\/studentaid.gov\/\"\n    title=\"FAFSA\"\n    target=\"\" >\n            <span class=\"btn-icon-image\">\n            <i class=\"fas fa-money-check\" aria-hidden=\"true\"><\/i>        <\/span>\n        <span class=\"btn-icon-text\">\n            FAFSA        <\/span>\n    <\/a>\n\t<\/div>\n\n\n\n<div class=\"col-12 col-md-4\">\n\t\t\t\n<a\n    id=\"block-block_d828e0d72dac75f9a6f9125ba17d80dc\"\n    class=\"btn mb-3 d-inline-flex btn-icon bg-danger\"\n    href=\"https:\/\/book.appointment-plus.com\/cn21mygm\/#\/\"\n    title=\"Book an Appointment\"\n    target=\"\" >\n            <span class=\"btn-icon-image\">\n            <i class=\"fas fa-arrow-alt-circle-right\" aria-hidden=\"true\"><\/i>        <\/span>\n        <span class=\"btn-icon-text\">\n            Book an Appointment        <\/span>\n    <\/a>\n\t<\/div>\n\n\n\n<div class=\"col-12 col-md-4\">\n\t\t\t\t<\/div>\n\n<\/div>\n\n<\/div>\n<\/div><\/div>\n\n\n<div class=\"wp-bootstrap-blocks-container container mb-2\">\n\t\n<div class=\"wp-bootstrap-blocks-row row\">\n\t\n\n<div class=\"col-12 col-md-3\">\n\t\t\t\n<button class=\"btn btn-section w-100 px-0 wp-menu-block-toggle mobile-nav-toggle d-none\" data-target=\"wp-menu-block-side-menu\">\n          <span class=\"h-100 mr-3 mt-1 d-block mobile-nav-icon\" aria-hidden=\"true\">\n\t\t\t<span class=\"mb-1 transition bg-dark d-block mobile-nav-icon-line\"><\/span>\n\t\t\t<span class=\"mb-1 transition bg-dark d-block mobile-nav-icon-line\"><\/span>\n\t\t\t<span class=\"mb-1 transition bg-dark d-block mobile-nav-icon-line\"><\/span>\n\t\t  <\/span>\n          Office of Financial Aid<\/button><nav id=\"wp-menu-block-side-menu\" class=\"wp-menu-block sidebar-nav wp-block-umflint-menu-block\"><div class=\"nav-sidebar-title-container\">\n                <div class=\"nav-sidebar-title\"><a href=\"https:\/\/www.umflint.edu\/finaid\/\">Office of Financial Aid<\/a><\/div>\n                <a class=\"nav-sidebar-title-close\" href=\"#\" data-target=\"side-menu\" aria-label=\"Close\" aria-expanded=\"false\">\n                    <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"100%\" height=\"50\" fill=\"currentColor\" viewBox=\"0 0 24 24\">\n                        <title>close<\/title><path d=\"M19,6.41L17.59,5L12,10.59L6.41,5L5,6.41L10.59,12L5,17.59L6.41,19L12,13.41L17.59,19L19,17.59L13.41,12L19,6.41Z\" \/>\n                    <\/svg>\n\t\t\t\t<\/a>\n            <\/div><ul id=\"menu-side-menu\" class=\"menu nav nav-sidebar flex-column\"><li itemscope=\"itemscope\" itemtype=\"https:\/\/www.schema.org\/SiteNavigationElement\" id=\"menu-item-73\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-has-children menu-item-73 nav-item\"><a title=\"Types of Financial Aid\" href=\"https:\/\/www.umflint.edu\/finaid\/types-of-aid\/\" class=\"nav-link\">Types of Financial Aid<\/a>\n<ul class=\"subitems-menu\" >\n\t<li itemscope=\"itemscope\" itemtype=\"https:\/\/www.schema.org\/SiteNavigationElement\" id=\"menu-item-56\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-56 nav-item\"><a title=\"Grants\" href=\"https:\/\/www.umflint.edu\/finaid\/types-of-aid\/grants\/\" class=\"nav-link\">Grants<\/a><\/li>\n\t<li itemscope=\"itemscope\" itemtype=\"https:\/\/www.schema.org\/SiteNavigationElement\" id=\"menu-item-60\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-60 nav-item\"><a title=\"Loans\" href=\"https:\/\/www.umflint.edu\/finaid\/types-of-aid\/loans\/\" class=\"nav-link\">Loans<\/a><\/li>\n\t<li itemscope=\"itemscope\" itemtype=\"https:\/\/www.schema.org\/SiteNavigationElement\" id=\"menu-item-64\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-64 nav-item\"><a title=\"Scholarships\" href=\"https:\/\/www.umflint.edu\/finaid\/types-of-aid\/scholarships\/\" class=\"nav-link\">Scholarships<\/a><\/li>\n\t<li itemscope=\"itemscope\" itemtype=\"https:\/\/www.schema.org\/SiteNavigationElement\" id=\"menu-item-67\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-67 nav-item\"><a title=\"Work-Study\" href=\"https:\/\/www.umflint.edu\/finaid\/types-of-aid\/work-study\/\" class=\"nav-link\">Work-Study<\/a><\/li>\n<\/ul>\n<\/li>\n<li itemscope=\"itemscope\" itemtype=\"https:\/\/www.schema.org\/SiteNavigationElement\" id=\"menu-item-82\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-82 nav-item\"><a title=\"Applying for Aid\" href=\"https:\/\/www.umflint.edu\/finaid\/applying-for-aid\/\" class=\"nav-link\">Applying for Aid<\/a><\/li>\n<li itemscope=\"itemscope\" itemtype=\"https:\/\/www.schema.org\/SiteNavigationElement\" id=\"menu-item-113\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-113 nav-item\"><a title=\"How Your Aid is Determined\" href=\"https:\/\/www.umflint.edu\/finaid\/how-your-aid-is-determined\/\" class=\"nav-link\">How Your Aid is Determined<\/a><\/li>\n<li itemscope=\"itemscope\" itemtype=\"https:\/\/www.schema.org\/SiteNavigationElement\" id=\"menu-item-138\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-138 nav-item\"><a title=\"Accepting Aid\" href=\"https:\/\/www.umflint.edu\/finaid\/accepting-aid\/\" class=\"nav-link\">Accepting Aid<\/a><\/li>\n<li itemscope=\"itemscope\" itemtype=\"https:\/\/www.schema.org\/SiteNavigationElement\" id=\"menu-item-444\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-444 nav-item\"><a title=\"Go Blue Guarantee\" href=\"https:\/\/www.umflint.edu\/finaid\/go-blue-guarantee\/\" class=\"nav-link\">Go Blue Guarantee<\/a><\/li>\n<li itemscope=\"itemscope\" itemtype=\"https:\/\/www.schema.org\/SiteNavigationElement\" id=\"menu-item-148\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-148 nav-item\"><a title=\"Forms, Policies &amp; Required Reading\" href=\"https:\/\/www.umflint.edu\/finaid\/resources\/\" class=\"nav-link\">Forms, Policies &amp; Required Reading<\/a><\/li>\n<li itemscope=\"itemscope\" itemtype=\"https:\/\/www.schema.org\/SiteNavigationElement\" id=\"menu-item-1383\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-1383 nav-item\"><a title=\"Glossary of Financial Aid Terms\" href=\"https:\/\/www.umflint.edu\/finaid\/glossary\/\" class=\"nav-link\">Glossary of Financial Aid Terms<\/a><\/li>\n<li itemscope=\"itemscope\" itemtype=\"https:\/\/www.schema.org\/SiteNavigationElement\" id=\"menu-item-406\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-406 nav-item\"><a title=\"Tutorials\" href=\"https:\/\/www.umflint.edu\/finaid\/tutorials\/\" class=\"nav-link\">Tutorials<\/a><\/li>\n<li itemscope=\"itemscope\" itemtype=\"https:\/\/www.schema.org\/SiteNavigationElement\" id=\"menu-item-214\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-214 nav-item\"><a title=\"Consumer Information\" href=\"https:\/\/www.umflint.edu\/finaid\/consumer-information\/\" class=\"nav-link\">Consumer Information<\/a><\/li>\n<li itemscope=\"itemscope\" itemtype=\"https:\/\/www.schema.org\/SiteNavigationElement\" id=\"menu-item-70\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-70 nav-item\"><a title=\"Contact Us\" href=\"https:\/\/www.umflint.edu\/finaid\/contact-us\/\" class=\"nav-link\">Contact Us<\/a><\/li>\n<\/ul><\/nav>\n\t<\/div>\n\n\n\n<div class=\"col-12 col-md-9\">\n\t\t\t\n<nav aria-label=\"breadcrumb\"><ol class=\"breadcrumb mb-3\"><li class=\"breadcrumb-item\"><a href=\"\/\">Home<\/a><\/li><li class=\"breadcrumb-item\"><a href=\"https:\/\/www.umflint.edu\/finaid\">Office of Financial Aid<\/a><\/li><li class=\"breadcrumb-item\"><a href=\"https:\/\/www.umflint.edu\/finaid\/types-of-aid\/\">Types of Financial Aid<\/a><\/li><li class=\"breadcrumb-item active\" aria-current=\"page\">Loans<\/li><\/ol><\/nav>\n\n\n<h2 class=\"wp-block-heading has-primary-color has-text-color\">Federal Loans<\/h2>\n\n\n\n<p class=\"mb-2\"><a href=\"https:\/\/studentaid.gov\/understand-aid\/types\/loans\" target=\"_blank\" rel=\"noreferrer noopener\">Federal loans<\/a> are a form of aid that will require repayment. Federal student loans allow students to borrow at special fixed interest rates and with flexible repayment plans. Students must complete the Free Application for Student Aid and be eligible students to qualify for federal student loans. While there are private or alternative loans available, it is important to pursue federal student loans first.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/studentaid.gov\/understand-aid\/types\/loans\/subsidized-unsubsidized\" target=\"_blank\" rel=\"noreferrer noopener\">Federal Direct Subsidized Loan<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/studentaid.gov\/understand-aid\/types\/loans\/subsidized-unsubsidized\" target=\"_blank\" rel=\"noreferrer noopener\">Federal Direct Unsubsidized Loan<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/studentaid.gov\/app\/launchPLUS.action?plusType=gradPlus\" target=\"_blank\" rel=\"noreferrer noopener\">Graduate Direct PLUS Loan<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/studentaid.gov\/app\/launchPLUS.action?plusType=parentPlus\" target=\"_blank\" rel=\"noreferrer noopener\">Parent Direct PLUS Loan<\/a><\/li>\n<\/ul>\n\n\n\n<p>Borrowers who accept Title IV loan funding from Subsidized, Unsubsidized, Parent PLUS, or Graduate PLUS loan programs will have their loan information submitted to the National Student Loan Data System as required by federal regulation. Please be aware that authorized agencies, lenders, and institutions will have access to this information. Student and parent borrowers can access their own loan information through their account at <a href=\"http:\/\/studentaid.gov\/\"><strong>studentaid.gov<\/strong><\/a><strong>.<\/strong><\/p>\n\n\n\n<p>Loan servicers are responsible for repayment and other services related to federal student loans. Additional information regarding federal loan servicers, including contact information, can be found at <a href=\"https:\/\/studentaid.gov\/manage-loans\/repayment\/servicers\" target=\"_blank\" rel=\"noreferrer noopener\">Who\u2019s My Student Loan Servicer?<\/a><\/p>\n\n\n\n<p>For information on Federal Direct loan interest rates, including those from previous years&#8217;, please visit <a href=\"https:\/\/studentaid.gov\/understand-aid\/types\/loans\/interest-rates\" target=\"_blank\" rel=\"noreferrer noopener\">Federal Interest Rates and Fees<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-secondary-color has-css-opacity has-secondary-background-color has-background mt-5 mb-5\"\/>\n\n\n\n<h2 class=\"wp-block-heading has-primary-color has-text-color\">Private Loans<\/h2>\n\n\n\n<p>The Office of Financial Aid encourages eligible students to apply for financial aid by completing the <a href=\"https:\/\/studentaid.gov\/\" target=\"_blank\" rel=\"noreferrer noopener\">FAFSA<\/a> before applying for private loans. By completing the FAFSA, eligible students will be considered for federal student loans and other aid, including grants. Federal student loans can have terms and conditions that are more beneficial to the student, and our office recommends exhausting federal aid eligibility before considering a private loan.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-primary-color has-text-color has-link-color has-medium-font-size wp-elements-52bfcf3366df3f4c9a0d984b6989a194\"><strong>Searching for Private Lenders<\/strong><\/h3>\n\n\n\n<p>Students should compare loans from several private lenders in order to choose the best option for their situation. The <a href=\"https:\/\/www.elmselect.com\/v4\/school\/1007\/program-select\" target=\"_blank\" rel=\"noreferrer noopener\">ELM Select<\/a> tool provides information on the most frequently used lenders at the University of Michigan-Flint over the past three years. The tool compares lender terms, rates, and repayment options and the list of lenders included is updated annually. Please note that students are not limited to the lenders included with this tool, and have the right to borrow from any lender they choose. The student should be aware of the eligibility requirements of the loan they are applying for (satisfactory academic progress, half-time enrollment, past due balances, etc.) to prevent the loan from being rejected.<\/p>\n\n\n\n<p>Students should be aware of possible scams. Students should avoid any lender that does not require certification from the University of Michigan-Flint and be cautious of unsolicited loan offers.<\/p>\n\n\n\n<p>For more information regarding private loans, please view this <a href=\"https:\/\/docs.google.com\/document\/d\/1aW2HKYkpv36QCl-SjhuVxZzMwv3aM3KhPdIxM2pndgw\/edit\" target=\"_blank\" rel=\"noreferrer noopener\">information sheet<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading mb-2 has-primary-color has-text-color has-link-color has-medium-font-size wp-elements-291330a75dc3c960b96302c4a897a28b\"><strong>Application and Certification Process<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Apply for the loan directly through the lender of your choosing (often online).<\/li>\n\n\n\n<li>Once approved, the lender will request that University of Michigan-Flint certify the loan.<\/li>\n\n\n\n<li>After certification, lenders will send funds electronically directly to the school. Funds will then be applied to your student account, and any credit will be issued to the student.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading has-primary-color has-text-color has-link-color has-medium-font-size wp-elements-9518cff757e54069f923ef75fc9ad294\"><strong>Lender Requirements<\/strong><\/h3>\n\n\n\n<p>Under provisions of the Truth in Lending Act, private education loan lenders are required to provide loan disclosures to borrowers, have a waiting period between the time of final loan disclosure and disbursement, and collect a <a href=\"https:\/\/fsapartners.ed.gov\/sites\/default\/files\/2023-06\/H450PrivateEducationLoanApplicantSelfCertificationForm.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Private Education Loan Applicant Self-Certification Form<\/a>. This form is submitted to the lender, not the Office of Financial Aid. To complete the form, you will need to know your cost of attendance and estimated financial assistance. Click <a href=\"https:\/\/www.umflint.edu\/finaid\/accepting-aid\/#reviewoffer\">here<\/a> to learn how to find this information.<\/p>\n\n\n\n<p>The University of Michigan-Flint adheres to a <a href=\"https:\/\/www.umflint.edu\/finaid\/consumer-information\/\" target=\"_blank\" rel=\"noreferrer noopener\">code of conduct for student loans<\/a> that prohibits incentives by private lenders.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-secondary-color has-css-opacity has-secondary-background-color has-background mt-5 mb-5\"\/>\n\n\n\n<h2 class=\"wp-block-heading has-primary-color has-text-color\">Emergency Loans<\/h2>\n\n\n\n<p class=\"mb-2\">Emergency loans are made available to currently enrolled students with temporary financial problems.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Students must have a 2.0 cumulative GPA and be in good <a href=\"https:\/\/www.umflint.edu\/finaid\/applying-for-aid\/#sat-pro\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Satisfactory Academic Progress<\/strong><\/a>.<\/li>\n\n\n\n<li>Students must be enrolled in the semester for which the loan is to be paid.<\/li>\n\n\n\n<li>Repayment is expected within 30 days.<\/li>\n\n\n\n<li>A maximum of three emergency loans will be granted while attending UM-Flint.<\/li>\n\n\n\n<li>The maximum amount a student may borrow in any semester is $500. The minimum request is $25.<\/li>\n\n\n\n<li>Emergency Loans that meet the following criteria should be accompanied by adequate documentation of the circumstances and applicants must show resources sufficient to repay the amount of the loan requested.<\/li>\n\n\n\n<li>Loans intended to pay a debt to a particular company (or individual); the check will be made payable to the company.<\/li>\n\n\n\n<li>Recipients must demonstrate financial need. Types of emergency situations for which these loans may be granted are:\n<ul class=\"wp-block-list\">\n<li>housing evictions<\/li>\n\n\n\n<li>utility shut-offs<\/li>\n\n\n\n<li>transportation repairs<\/li>\n\n\n\n<li>child care<\/li>\n\n\n\n<li>medical\/dental emergencies<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Approval of these loans is at the discretion of the Emergency Loan Committee.<\/li>\n<\/ul>\n\n\t<\/div>\n\n<\/div>\n\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p> [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/www.umflint.edu\/finaid\/types-of-aid\/loans\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":24,"featured_media":0,"parent":51,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-59","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.umflint.edu\/finaid\/wp-json\/wp\/v2\/pages\/59","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.umflint.edu\/finaid\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.umflint.edu\/finaid\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.umflint.edu\/finaid\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.umflint.edu\/finaid\/wp-json\/wp\/v2\/comments?post=59"}],"version-history":[{"count":46,"href":"https:\/\/www.umflint.edu\/finaid\/wp-json\/wp\/v2\/pages\/59\/revisions"}],"predecessor-version":[{"id":1376,"href":"https:\/\/www.umflint.edu\/finaid\/wp-json\/wp\/v2\/pages\/59\/revisions\/1376"}],"up":[{"embeddable":true,"href":"https:\/\/www.umflint.edu\/finaid\/wp-json\/wp\/v2\/pages\/51"}],"wp:attachment":[{"href":"https:\/\/www.umflint.edu\/finaid\/wp-json\/wp\/v2\/media?parent=59"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}