Financial Aid FAQs

Complete the Free Application for Federal Student Aid (FAFSA) or the Renewal Application electronically using FAFSA on the WEB.

Submit all documents as requested by the Student Financial Aid Office (i.e. tax returns, verification forms, etc.).

If you have already been admitted, you can use your University account access to check myMemphis for the most up-to-date information on your financial aid application. Other students should follow up with the Student Financial Aid Office periodically to make sure no additional information is needed.

If you listed the University of Memphis on your FAFSA but have decided to attend another school, notify us in order to avoid delays in getting your aid processed elsewhere.

003509 is the school code for the University of Memphis.

YOU MUST APPLY EVERY YEAR (not every semester). The financial aid year begins in the fall and ends in the summer. Typically you would apply after January 1 for the following fall semester. For priority deadlines, review WHEN TO APPLY.

Financial aid is not automatically renewed. Federal requirements and/or your family's financial situation may change. So you must reapply for aid each year.

Any undergraduate, graduate or law student currently enrolled or who applies for admission to The University of Memphis may apply for financial aid. However, students must be accepted into a degree program with a declared major, be a U.S. citizen or eligible non-citizen; be making satisfactory academic progress and be enrolled at least half-time (in most cases) to receive aid. The number of credit hours required for eligibility is as follows:

Half-time 3/4 time Full-time

Undergraduate 6 9 12

Graduate* 5 ---- 9

Law** 6 ---- 12

*Graduate assistants are required to be enrolled in 9 graduate credit hours to be considered full-time.

**For federal aid purposes, half-time is defined as a minimum of 6 law credit hours for the fall and spring semesters. For law students, half-time during the summer is defined as a minimum of 3 law credit hours.

It really depends on the time of year. If you are submitting documents for fall in January, February or March, award information is usually posted on myMemphis beginning in April once all the system upgrades have been put in place. If you are applying for aid when classes are already in session, the award information is usually posted within a week of submitting all your required documents.

All financial aid refunds are disbursed through the Bursar's Office. For a disbursement schedule of excess financial aid, log on to the eBursar website. Aid will not be released early.

Most financial aid is processed based on an academic year (i.e. fall and spring). Aid awards are therefore usually disbursed evenly between the fall and spring semesters. If you plan to graduate in the fall or request that aid be processed for one semester only, then our office will process your award for half of an academic year's eligibility.

Federal regulations dictate when your monies can be disbursed. You may check the eBursar website for more detailed information regarding the disbursement of financial aid refunds. 

If you do not have all your financial aid documents in before the fee payment deadline you may apply for the installment plan (see Fee Payment section under the Bursar's website for specific requirements). Please note that even if you applied for financial aid, there is no guarantee that you will be eligible to receive aid once all your documents are in. NOTE: The installment plan is NOT available in the summer. AVOID LATE FEES! Students dependent on Financial Aid to pay their fees must adhere to the missing requirement submission deadlines: August 1st - Fall, December 1st - Spring, May 1st - Summer.

If you completely withdraw or drop below half-time prior to receiving your aid, or prior to the beginning of classes, you are not eligible for your scheduled aid for that semester. If you drop a class or completely withdraw after receiving your disbursement, any balance of aid for that semester will be canceled. If you have a student loan, any refund due to complete withdrawal or drop in hours will be returned to the appropriate account and credited to your student loan. NOTE: Totally withdrawing prior to attending 60% of the academic term results in a calculation of "unearned financial aid" that MUST be repaid. 100% of financial aid is not earned until the student has attended at least 60% of the academic term.

If you transfer from one institution to another within an academic year, you should be able to receive aid at your new institution. Due to availability and other factors such as cost, you may not be able to receive the same amount(s) and type(s) of aid. Even though you do NOT need to fill out the FAFSA again, you do need to contact their Central Processing Center (i.e. 1-800-433-3243) to have the results sent to your new institution. You may need to supply other documents to the new institution, so be sure to contact their Financial Aid Office.

It depends on what aid you already received during the academic year. If you transfer from another institution and received aid there during the academic year (i.e. fall and/or spring), we would need to consider what aid you already received there. If you are unsure what your summer aid eligibility may be, you can submit a Summer Update Form, which is available on the Financial Aid Forms page in March each year.

The federal guidelines determine dependency status. When you complete the FAFSA, you will be asked specific questions which determine your dependency status.

Household and income information of the parent (and stepparent if any) whom you resided with more than half of the time during the last 12 months should be reported on the FAFSA.

The federal government does not charge interest on a Subsidized Loan while the borrower is enrolled at least half-time, during a six-month grace period, or during authorized periods of deferment. However, interest is charged throughout the life of an Unsubsidized Loan, and it starts to accrue on the date of disbursement.

All loan deferment forms should be taken directly to the Registrar's Office in 003 Wilder Tower. This office is responsible for enrollment certification.

Because a PLUS Loan is a type of Unsubsidized Loan, interest on a PLUS Loan starts to accrue the day the loan is disbursed. Even though the account may not be in repayment, interest is still accruing.

PLUS Loans enter repayment on the date of the last disbursement on the loan, and the first payment is due within the next 60 days. PLUS Loans do not have a grace period.

Payments can be made at ANYTIME. If you are in school, or your loan is in a grace period, deferment, or forbearance, you will not receive monthly bills, but checks or money orders can be made payable to the U.S. Department of Education. Please include the borrower’s Social Security Number on the check or money order and mail it to:

U.S. Department of Education
Direct Loan Payment Center
P.O. Box 746000
Atlanta, GA 30374-6000

Visit the Office of Financial Aid for more information.