Financial Resources

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Budget Re-Evaluations
University of Michigan Emergency Short Term Loan
Related Resources Around Campus

Budget Re-Evaluations: 2025-2026 is available

Form is to be open in early October through mid-March.

All students receive financial aid based on their program’s standard Cost of Attendance budget (COA). The COA includes tuition, fees, along with an estimate for: books, supplies, housing, and personal/miscellaneous educational and living expenses.

Sometimes the standard COA does not realistically meet a student’s actual expenses.  Students in need of additional borrowing beyond the standard COA, may explore a Budget Re-Evaluation. 

  • Budget Re-Evaluations will be available early October each year, and with a yearly deadline of March 20.
  • Must have supporting documents of expenses.
    • Example: signed lease for rent budget request, statements of any utilities expenses request, signed letters for confirmation of any type of expense that requires such a document.
  • Expenses must be within the current academic year (September – April).
  • Expenses must be program related. Not all expenses are eligible.
    • Examples of some excluded expenses include:  M-trek, car expenses, and recruiting expenses. 
  • Expenses for family members cannot be included.
  • Ross Financial Aid has the authority to cap the total amount allowed in the Budget Re-Evaluation process.
Steps for completing A budget re-evaluation:
  1. Print or Download the Ross Graduate Educational Expenses Worksheet (OPEN)
  2. Please read form.
  3. Complete front page fully and only fill out the line items in which your actual expenses exceed the standard allotment.
  4. Provide ALL supporting documentation for each line items that you believe are beyond the standard allotment. Any missing documents could delay the request to be completed.
  5. Email the completed form and supporting documents to rossfinaid@umich.edu. Be sure to include your 8 digit UMID number within the email.

Once received by Ross Financial Aid: Review process of application and supporting documents can take approximately 2-3 weeks. Students may receive an email for additional documents, if supporting documents are unclear or incomplete.  Once the review has been finalized, Ross Financial Aid will email the student the results of the Budget Re-Evaluation. If approved for a Budget Re-Evaluation, students may decide to apply for additional loans to help cover their additional expense, or seek other outside funding. 

Short-Term Emergency Loans

All students may be considered for a $500 in a short-term (90-day) interest-free loan. To qualify, a student must be enrolled and cannot have another outstanding short-term emergency loan. Typically, these loans should be used for unforeseen emergencies or short-term situations where you will be able to repay the money within a few weeks. Borrowing money is not a matter to be taken lightly and students should consider carefully whether they need a more long-term solution to a financial situation before taking out a short-term loan.

Apply through Wolverine Access following this path: Student Center > Financial Aid > Aid Year > Loans > Short-Term University Loans.

Please note that:

  • Students with past due short-term loans will not be allowed to register for a new semester of study.
  • Outstanding, unpaid balances may results in a change or reduction in your financial aid.

The Office of Financial Aid recommends that students borrow only what they need to accomplish the goal of a U-M education.

Related Resources Around Campus

If you are experiencing a life crisis, you may need other forms of support in addition to financial help.

The Ross School of Business Office of Financial Aid is a satellite office of the University of Michigan Office of Financial Aid.