Most students and families use several resources to pay for post-secondary education. Income and savings, scholarships, grants, and student loans are some.
There are also Tax Benefits for Education that you may qualify for, but those won’t be realized until next year’s taxes are filed.
If you haven’t filed a FAFSA for 2024-25, do so as soon as possible at fafsa.gov. Use tax information from 2022. If your application is not processed before the tuition due date, and you cannot pay the entire bill in full, you will want to sign up for the University’s Payment Plan. Keep an eye on this website for details: https://mycollegepaymentplan.com/uwm/. If you have charges owed from a prior term, you can include up to $1,500 of them in your payment plan. Once the semester ends, the options available to help you pay for a past-due balance are limited.
If you did file the FAFSA, but you don’t have enough funds:
Economic hardship is a reality for many families. When you completed the 2024-2025 FAFSA, income information from 2022 was used. If your or your parent(‘s) income drastically changed in 2023 or 2024, you may qualify for Special Circumstance consideration. You will need to speak to an advisor in the Student Financial Service Center so they can help you understand the process and let you know what documents you need to provide. Here is the link for the ways to reach us: Contact – Student Financial Services (uwm.edu)
Take advantage of the University’s Payment Plan. Students must opt in. The payment plan allows you to pay tuition and fees in monthly payments. There’s no interest, the payment options are flexible, and the setup fees are affordable. Review this website for more information and details: https://mycollegepaymentplan.com/uwm/
There are a couple of financial aid programs left to consider. We encourage you to read the section “Additional Financial Resources” in the current version of the Financial Aid Handbook. These pages discuss the Federal Parent and Graduate PLUS Loans and the Private Educational Loan program. Details on these programs, and links to online applications, can be found at the links below.
- Federal Direct Parent PLUS Loans—a federal loan available to parents of dependent, undergraduate students.
- Federal Direct Graduate PLUS Loans—a federal loan available to students enrolled in a program leading to a graduate degree.
- Private Educational Loans—many private lenders offer loans to students who need additional funds to pay for their post-secondary education. This link provides lender names and a comparison tool to help you select the best choice.
Think ahead! The typical cycle for scholarships is from October to May; however, new scholarships are posted all the time. Check the portal often for new listings. If there isn’t anything listed for this year, keep an eye out for listings for next year to help supplement your future terms!
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