2024-2025 Graduate Bulletin > Policies and General Information > Financial Policies and Information > Scholarships and Financial Aid > General Requirements for Loans and Work Study

General Requirements for Loans and Work Study

Academic Eligibility

Graduate students must register for at least five graduate credit hours per semester at CMU to be eligible for federal student aid programs. Credit hours are determined after the close of the Drop/Add period.

Policy and Award Revision

CMU reserves the right to revise a student's financial aid offer if government regulations, university policy or sources of funding change prior to or during an academic year; if overpayment occurs; or if acceptance of the award is made after the acceptance date.

Debt and Default

Federal aid recipients may not owe a refund from any grant or loan or be in default on any federal loan to be eligible for assistance.

Financial Aid Assessment

The federal needs analysis is utilized to determine the student’s Student Aid Index (SAI) and spousal contribution, if applicable. Students and their spouses must consent to use their Federal Tax Information (FTI) on the FAFSA and are expected to assist in meeting educational costs. The SAI calculation utilizes 2022 year earnings and untaxed income, and a percentage of personal savings and assets.

Student loan requirements and regulations can be quite complex; all students are encouraged to work closely with the CMU Office of Scholarships and Financial Aid. The financial aid office has a great website at https://www.cmich.edu/offices-departments/office-scholarships-financial-aid that provides detailed information on loan programs. Financial aid advisors are available to answer questions and offer information and advice concerning student loans. Financial aid advisors are available on a walk-in basis in One Central in the Bovee University Center or by appointment in Warriner 202.