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Financial aid basics

Use this page to orient yourself to the steps in the financial aid process.

Log in to manage your University financial aid online.

One Stop counselors

Contact One Stop counselors, the University's financial aid experts.

Step 1. Apply for financial aid

Your financial aid at the University of Minnesota

Step 2: Complete additional requirements

You will receive a request for additional documentation by mail or email, if anything is required.

Verification

If your application is selected for a process called verification, submit all requested documentation so your application can be verified as accurate and truthful.

Other examples

You may be asked to  document  your  citizenship status,  Selective Service registration, dependency status,  transcripts from previous schools, or other information.

Step 3: Financial aid under review

Your financial aid file may remain at step 3 for an extended wait while the University 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's resources and your financial situation.

Step 4: Complete your eFAAN

What is an eFAAN?

The eFAAN is your formal offer of financial support from the University of Minnesota. 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.

How do you get an eFAAN

As soon as your financial aid awards are determined, you will receive an email directing you to Financial Aid Status, a secured website where you view your Financial Aid Award Notice (eFAAN) and respond to your award offers electronically.

Step 5: Complete loan documents

You must complete a promissory note for any loans you accepted. A promissory note is the legal agreement that you will repay your loan(s).

You may also need entrance counseling or to complete truth in lending documents.

Parent borrowers will also need to complete an Active Confirmation form for a pending Parent PLUS loan.

Step 6: Disbursement of funds

Optional steps: modifying your awards or eligibility