Two students looking at a laptop on campus.

Loans

Western Michigan University participates in federal and private loan programs. Loans are another resource toÌýfinance your education. Undergraduate and graduate students and parents of dependent students may borrowÌýmoney to pay for educational expenses. The money that is borrowed needs to be repaid, but there are a variety of repaymentÌýoptions available. Loan amounts are based on cost of attendance, class level, enrollment status, dependency statusÌýand other resources.

To determine eligibility for most loan programs, you must file a Ìý(FAFSA)Ìýevery year.

The basics about loans

  • Borrowing money

    We encourage students and parents to borrow only what they need and are comfortable with repaying. DetermineÌýyour estimated expenses and subtract any grants, scholarships or other resources, such as savings or earnings fromÌýwork. The difference is the amount you may need to borrow in a student or parent loan. As you are borrowing fundsÌýeach year, be conscious of your total loan debt in relation to your future payment obligation and reevaluate everyÌýtime you borrow.

    The best loan to borrow

    When making the decision to borrow a particular type of loan, consider the following questions:

    • What is the maximum and minimum I can borrow in this program?
    • What is the interest rate?
    • How much is the interest payment?
    • Who is responsible for paying the interest while enrolled in school?
    • If the interest is the responsibility of the borrower, does the interest need to be paid quarterly, yearly or atÌýgraduation?
    • When does the borrower need to begin repaying the principal balance of the loan?
    • What is the minimum monthly payment of the loan?
    • How long can I repay the loan?
    • Can I make payments on the loan before it is due and pay the amount off earlier without penalty?
    • What are the choices if my income changes when I'm repaying the loan?
  • Interest

    Interest is the amount charged to the borrower for the privilege of using the lender's money. Interest is calculated as a percentage ofÌýthe principal balance of the loan. The percentage rate may be fixed for the life of the loan or it may be variable, depending on theÌýterms of the loan.

  • Consolidating loans

    Consolidation is a good way to manage your loan debt repayment. By bringing all your federal loans together into oneÌýpayment amount, you will more easily manage your monthly loan repayment and may reduce your monthly payments.ÌýConsolidation loans are based on fixed interest rates, whereas individual loans may have variable interest rates that may orÌýmay not be capped at a maximum interest rate. There are some drawbacks, so students must carefully review all informationÌýfrom the lender.

  • Repayment after finishing school

    For federal Direct Subsidized and Unsubsidized Loan borrowers, you must complete an exit counseling session so you areÌýaware of all the information you will need to know about repaying your loan. Make your monthly payments on time, even ifÌýyou are not billed. Stay in contact with the servicer of your loan at all times. Notify them immediately of your address changeÌýor name change, enrollment change or if you are having difficulty making payments. Open correspondence and return phoneÌýcalls immediately.

  • Having trouble repaying your loans

    If you have extenuating circumstances or know you will be unable to make your monthly payment, communicate with theÌýservicer of your loan immediately. Avoid the costs and consequences of delinquency (late payments) and default (noÌýpayments). Under certain conditions, you may be eligible for a forbearance, deferment or cancellation.

  • Capital interest

    When interest on your loans continues to accumulate and is not paid, the accrued interest will be capitalized—added to theÌýprincipal. You will then be paying interest on the accrued interest, and the disadvantage is you pay more interest over the lifeÌýof the loan. Interest may be capitalized quarterly, yearly or at graduation.

  • Continuing education at another institution

    Inform your servicer of your plans to continue your education at another institution. The servicer will determine if you are eligible for an "in-school deferment" that allowsÌýyour payments to be delayed. Once you no longer meet the conditions of the deferment, your repayment period beginsÌýimmediately.

Federal loans

A federal loan is a type of government loan that gives students an opportunity to borrow money directly from the federal government to help fund theirÌýcollege education. Administered by the U.S. Department of Education, federal loans usually offer lower interest rates and flexible options for repayment.

Federal Subsidized Loan

This is a federally financed and subsidized student loan made based on your financial need and other specific eligibility requirements.

  • Learn more about the Federal Subsidized Loan

    This is a federally financed student loan made to undergraduate students who meet specific eligibility requirements. You may borrow up to the cost of attendance minus any other financial aid received and may not borrow more than the maximum annual or lifetime amount. Interest is charged throughout the life of the loan. You may choose to pay the interest charged on the loan or allow the interest to be added to the loan principal.

    Description

    • Federally funded.
    • Not based on need.
    • The fixed interest rate for loans in the deferment or six-month grace period is as follows:

      Disbursement dateUndergraduate %Graduate %Loan Origination Fee
      (Oct. 1 each year)
      July 1, 2023 - June 30, 20245.50%7.05%1.057%
      July 1, 2022 - June 30, 20234.99%6.54%1.057%
      July 1, 2021 - June 30, 20223.73%5.28%1.057%
      July 1, 2020 - June 30, 20212.75%4.3%1.057%
      July 1, 2019 - June 30, 20204.53%6.08%1.059%
    • Effective July 1, 2013: Interest rates are adjusted yearly based on the 10-year U.S. Treasury note index rate. The interest rate cap for undergraduate federal Direct Subsidized and Unsubsidized Loans is 8.25%. The cap for graduate federal Direct Unsubsidized Loans is 9.5%.
    • Interest starts accruing upon disbursement.
    • Subject to annual and aggregate loan limits.
    • This is a loan you must repay to the U.S. Department of Education.
    • Complete theÌýstudent financial aid adjustment formÌýif you wish to cancel or reduce a loan that has not been disbursed to your WMU account. If the loan has already disbursed, you must complete the student financial aid adjustment form within 30 days of the date of disbursement. Please note: Canceling or reducing a disbursed loan may result in a balance due on your WMU account.
    • After you have accepted a federal Direct Subsidized Loan, you will receive a federal Loan Disclosure Statement from the Direct Loan Servicing Center or WMU. The disclosure statement identifies anticipated disbursement dates, gross and net disbursement amounts and loan fee amounts for all your federal loans for the academic year.

    Eligibility

    • Undergraduate students.
    • °ä´Ç³¾±è±ô±ð³Ù±ð»åÌýÌýrequired for first-time borrowers.
    • Federal loanÌýÌýrequired for first-time borrowers at WMU.
    • Offer eligibility based upon estimated family contribution, cost of attendance, enrollment and other resources.
    • Must be enrolled at least half time. Offer will be canceled if enrolled less than half time.
    • Offer may be adjusted or canceled if there is a change to cost of attendance, enrollment, graduating in August or December or if you receive additional resources.
    • Must be making satisfactory academic progress.
    • U.S. Citizen or eligible non-citizen.
    • Not in default on prior educational loans.

    Repayment

    • Accrued interest is billed quarterly and may be deferred (will be added to principal balance).
    • You will begin to repay your loan six months after you cease to be enrolled at least half time. During this six-month grace period, interest will accrue on your loan. Once the grace period expires, you will begin to repay your loan.
    • Complete anÌýÌýso you are aware of all the information you will need to know about repaying your loan.
    • If you drop to less than half time, withdraw, drop out, graduate or simply do not return to school, this information will be reported to the servicer and they will begin to count your grace period. You are responsible for notifying WMU immediately if your enrollment changes as described above.
    • Payments will be made to the U.S. Department of Education.
    • To obtain information about consolidating your federal loans, visitÌý. The interest rate for a consolidation loan is the weighted average of the interest rates on the loans being consolidated and is fixed for the life of the loan.
    • It is important that you maintain all important files and keep copies of your offer notices, Master Promissory Note, borrower's rights and responsibilities and the Loan Disclosure Statement in one place as they provide the details of your loans and your rights and responsibilities as a student loan recipient.

Federal Unsubsidized Loan

This is a federally financed student loan made to undergraduate and graduate students who meet specific eligibility requirements.

  • Learn more about the federal Unsubsidized Loan

    This is a federally financed student loan made to undergraduate and graduate students who meet specific eligibility requirements. You may borrow up to the cost of attendance minus any other financial aid received and may not borrow more than the maximum annual or lifetime amount. Interest is charged throughout the life of the loan. You may choose to pay the interest charged on the loan or allow the interest to be added to the loan principal.

    Description

    • Federally funded.
    • Not based on need.
    • The fixed interest rate for loans in the deferment or six month grace period is as follows:

      Disbursement DateUndergraduate %Graduate %Loan Origination Fee
      (Oct. 1 each year)
      July 1, 2023 - June 30, 20245.50%7.05%1.057%
      July 1, 2022 - June 30, 20234.99%6.54%1.057%
      July 1, 2021 - June 30, 20223.73%5.28%1.057%
      July 1, 2020 - June 30, 20212.75%4.3%1.057%
      July 1, 2019 - June 30, 20204.53%6.08%1.059%
    • Effective July 1, 2013: Interest rates are adjusted yearly based on the 10-year U.S. Treasury note index rate. The interest rate cap for undergraduate federal Direct Subsidized and Unsubsidized Loans is 8.25%. The cap for graduate federal Direct Unsubsidized Loans is 9.5%.
    • Interest starts accruing upon disbursement.
    • Subject to annual and aggregate loan limits.
    • This is a loan you must repay to the U.S. Department of Education.
    • Complete theÌýstudent financial aid adjustment formÌýif you wish to cancel or reduce a loan that has not been disbursed to your WMU account. If the loan has already disbursed, you must complete the student financial aid adjustment form within 30 days of the date of disbursement. Please note: Canceling or reducing a disbursed loan may result in a balance due on your WMU account.
    • After you have acceptedÌýa federal Direct Unsubsidized Loan, you will receive a Federal Loan Disclosure Statement from the Direct Loan Servicing Center or WMU. The disclosure statement identifies anticipated disbursement dates, gross and net disbursement amounts and loan fee amounts for all your federal loans for the academic year.

    Eligibility

    • Undergraduate and graduate students.
    • °ä´Ç³¾±è±ô±ð³Ù±ð»åÌýÌýrequired for first-time borrowers.
    • Federal loanÌýÌýrequired for first-time borrowers at WMU.
    • Offer eligibility based upon estimated family contribution, cost of attendance, enrollment and other resources.
    • Must be enrolled at least half time. Offer will be canceled if enrolled less than half time.
    • Offer may be adjusted or canceled if there is a change to cost of attendance, enrollment, graduating in August or DecemberÌýor if you receive additional resources.
    • Must be making satisfactory academic progress.
    • U.S. Citizen or eligible non-citizen.
    • Not in default on prior educational loans.

    Repayment

    • Accrued interest is billed quarterly and may be deferred (will be added to principal balance).
    • You will begin to repay your loan six months after you cease to be enrolled at least half time. During this six-month grace period, interest will accrue on your loan. Once the grace period expires, you will begin to repay your loan.
    • Complete anÌýÌýso you are aware of all the information you will need to know about repaying your loan.
    • If you drop to less than half time, withdraw, drop out, graduate or simply do not return to school, this information will be reported to the servicer and they will begin to count your grace period. You are responsible for notifying WMU immediately if your enrollment changes as described above.
    • Payments will be made to the U.S. Department of Education.
    • To obtain information about consolidating your federal loans, visitÌý. The interest rate for a consolidation loan is the weighted average of the interest rates on the loans being consolidated and is fixed for the life of the loan.
    • It is important that you maintain all important files and keep copies of your offer notices, Master Promissory Note, borrower's rights and responsibilities and the Loan Disclosure Statement in one place as they provide the details of your loans and your rights and responsibilities as a student loan recipient.

Federal Graduate PLUS Loan

This is a federally funded loan that is not based on need and for graduate students only. An additional application is required.

  • Learn more about the federal Graduate PLUS Loan

    Description

    • Federally funded.
    • Not based on need.
    • Graduate student is the borrower.
    • The fixed interest rate for loans in the deferment or six month grace period is as follows:Ìý

      Disbursement DateGraduate %Loan Origination Fee
      (Oct. 1 each year)
      July 1, 2023 - June 30, 20248.05%4.228%
      July 1, 2022 - June 30, 20237.54%4.228%
      July 1, 2021 - June 30, 20226.28%4.228%
      July 1, 2020 - June 30, 20215.3%4.228%
      July 1, 2019 - June 30, 20207.08%4.236%
    • Effective July 1, 2013: Interest rates are adjusted yearly based on the 10-year U.S. Treasury note index rate. The interest rate cap for Federal Direct Graduate PLUS Loans is 10.5%.
    • Offered by WMU as federal Direct Graduate PLUS Loan on offer notice.
    • Offered up to cost of attendance minus other financial aid received.
    • This is a loan you are responsible to repay to the U.S. Department of Education.
    • Complete theÌýstudent financial aid adjustment formÌýif you wish to cancel or reduce a loan that has not been disbursed to your WMU account. If the loan has already disbursed, you must complete the student financial aid adjustment form within 30 days of the date of disbursement. Please note: Canceling or reducing a disbursed loan may result in a balance due on your WMU account.
    • After you have accepted your federal Direct Graduate PLUS Loan, you will receive a Federal Loan Disclosure Statement from the Direct Loan Servicing Center.
    • The Disclosure Statement identifies anticipated disbursement dates, gross and net disbursement amounts and loan fee amounts for all your federal Direct Graduate PLUS Loans for the academic year.

    Eligibility

    • Graduate students only.
    • Independent student.
    • Must be enrolled at least half time. Offer will be canceled if enrolled less than half time.Ìý
    • Completed federal .
    • °ä´Ç³¾±è±ô±ð³Ù±ð»åÌýfederal Ìýrequired for first-time borrowers.
    • First-time borrowers must complete online loanÌý.
    • Graduate student borrower must meet credit worthiness standards. If denied credit, the student will be notified by the Direct Loan Servicing Center.
    • Borrower may appeal extenuating circumstances or obtain an endorser. SeeÌýFederal Direct Graduate PLUS Loan informationÌýsheetÌýfor details.
    • Offer eligibility based upon estimated family contribution, cost of attendance, enrollment and other resources.
    • Offer may be adjusted or canceled if there is a change to estimated family contribution, cost of attendance, enrollment or additional resources.
    • Must be making satisfactory academic progress.

    Repayment

    • Interest begins accruing upon disbursement.
    • Repayment of principal and interest begins 60 days after loan is fully disbursed.
    • Payments will be made to the U.S. Department of Education.
    • Payments will automatically be deferred if you are enrolled at least half time.
    • For detailed information about repayment and loan consolidation, go toÌý.
    • The interest rate for a consolidation loan is the weighted average of the interest rates on the loans being consolidated and is fixed for the life of the loan.
    • It is important that you maintain all important files and keep copies of your offer notices, Master Promissory Note, Borrower's Rights and Responsibilities and the Loan Disclosure Statement in one place as they provide the details of your loans and your rights and responsibilities as a student loan borrower.

Federal Parent PLUS Loan

The federal Parent PLUS Loan allows a parent to borrow money for the educational expenses of a child who is a dependent undergraduate studentÌýenrolled at least half time.

  • Learn more about the federal Parent PLUS Loan

    Description

    • Federally funded.
    • Not based on need.
    • Parent borrows on behalf of student.
    • The fixed interest rate for loans in the deferment or six month grace period is as follows:

      Disbursement DateUndergraduate %Loan Origination Fee
      (Oct. 1 each year)
      July 1, 2023 - June 30, 20248.05%4.228%
      July 1, 2022 - June 30, 20237.54%4.228%
      July 1, 2021 - June 30, 20226.28%4.228%
      July 1, 2020 - June 30, 20215.3%4.228%
      July 1, 2019 - June 30, 20207.08%4.236%
    • Effective July 1, 2013: Interest rates are adjusted yearly based on the 10-year U.S. Treasury note index rate. The interest rate cap for federal Parent PLUS Loans is 10.5%.
    • Offered up to the cost of attendance minus other financial aid received.
    • This is a loan your parent must repay to the U.S. Department of Education.

    Eligibility

    • Undergraduate, dependent students only.
    • Must be enrolled at least half time. Offer will be canceled if enrollment falls below half time.
    • Offer eligibility based on estimated family contribution, cost of attendance, enrollment and other resources.
    • Offer may be adjusted or canceled if there is a change to estimated family contribution, cost of attendance, enrollment or if you receive additional resources.
    • Student must be making satisfactory academic progress.

    Application process

    • A parent (biological, adoptive or step-parent) must complete the federal . We suggest beginning this process at least 4 to 6 weeks prior to the start of classes. More information is available on ourÌýParent PLUS InformationÌý²õ³ó±ð±ð³Ù.
    • The financial aid office will verify the student is eligible for the federal Parent PLUS Loan, then submit the application information to the U.S. Department of Education. The student may see the federal Parent PLUS Loan on their financial aid offer as "accepted." This means the federal Parent PLUS Loan application is being processed. Please note: "Accepted" does not mean that the loan is "approved."
    • The Department of Education will perform a credit check. Applications may be denied, approved or pending.
      • Denials:ÌýIf denied, the borrower will be notified by the Department of Education and may appeal the credit decision or find an endorser. Or, the student may apply for an additional federal DirectÌýUnsubsidized Loan due to the federal Parent PLUS Loan denial by completing theÌýstudent financial aid adjustment form. The financial aid office will notify the student by email that we are unable to offer their federal Parent PLUS Loan and advise them of their options. If the parent borrower has not applied for an endorser or submitted an appeal, and the student has not submitted the application for additional unsubsidized loan within 30 days of the denial, our office will cancel the federal Parent PLUS Loan.
      • Approvals:ÌýThe parent borrower will receive the Federal Loan Disclosure Statement from the Direct Loan Servicing Center. The disclosure statement identifies anticipated disbursement dates, gross and net disbursement amounts and loan fee amounts.
      • Pending:ÌýThe application may be delayed if there is an error on the application or if a credit agency requests additional verification. If additional information is needed, the borrower will be notified via mail.
    • Parent borrowers must complete the federal Ìýrequired for first-time borrowers. The MPN will be sent to WMU automatically once it's completed. If the parent borrower completed the MPN for a federal Parent PLUS Loan without an endorser but then secured one, the borrower will need to submit a new MPN.
    • Once all requirements have been met, the federal Parent PLUS Loan is ready to pay toward the student's account. Disbursement usually begins 10 days before the start of classes. Students will be notified via email anytime there is activity on their accounts.
    • If there is an excess of funds once the loan pays to the student's WMU account, a refund will be issued to whomever the borrower selected on the federal Parent PLUS Loan application.
      • Borrower:ÌýIf the parent selected "borrower," a refund check will be mailed to the parent.
      • Student:ÌýIf the parent selected "student," a refund may be issued to the student electronically or through the mail depending on whether the student has signed up for e-refunds.
    • Borrowers have the option to setup eRefunds when having a PLUS Loan refunded to them. More information is available throughÌýAccounts Receivable.Ìý

    Changes to the Parent PLUS Loan

    • The parent borrower may complete theÌýParent PLUS Loan adjustment formÌýif he or she wishes to cancel or reduce a loan that has not been disbursed to the student's WMU account.
    • If the loan has already disbursed, the borrower must complete theÌýparent financial aid adjustment formÌýwithin 30 days of the date of disbursement. Please note: Canceling or reducing a disbursed loan may result in a balance due on the student's WMU account.

    Repayment

    • Federal Parent PLUS Loans first disbursed on or after July 1, 2008, can be deferred if the student is enrolled at least half time or during the six month period after the student ceases to be enrolled at least half time. For more information, you can request aÌýÌýbased on the student's enrollment status. Interest will accrue during the deferment period.
    • Interest begins accruing upon disbursement.
    • Repayment of principal and interest begins 60 days after loan is fully disbursed.
    • The parent borrower will make payments to the loan servicer.
    • The interest rate for a direct consolidation loan is the weighted average of the interest rates on the loans being consolidated and is fixed for the life of the loan.
    • It is important that borrowers maintain important files and keep copies of the Master Promissory Note, borrower's rights and responsibilities and the Loan Disclosure Statement in one place as they provide loan details and a borrower's rights and responsibilities.

Ìý

Federal loan limits

There is a time limit for federal Direct Subsidized Loans. Subsidy is limited to 150% of the length of the educational program for federal Direct Subsidized Loans that wereÌýdisbursed on or after July 1, 2013, for students who have no outstanding principal Direct Loan or Federal Family Education Loan Program at the time of their disbursement. For example, if aÌýstudent is enrolled in a four-year educational program, their eligibility limit for federal Direct Subsidized LoansÌýis six years.

Student loan counseling

Federal loan entrance and exit counseling

Failure to complete the appropriate counseling within 30 days of the student's acceptance of the loan, or at least 30 days prior to their last date ofÌýenrollment, may result in the cancellation of their loan(s).

Entrance counseling

For federal Direct Subsidized Loans, federal Direct Unsubsidized Loans and federal Direct Graduate PLUS Loans:

  • must be completed online.
  • First-time borrowers of a federal student loan must complete entrance counseling. Once the student passes the online quiz, Student Financial Aid will beÌýnotified electronically. If a student is enrolled and has not completed entrance counseling within at least 30 days after their loan(s) have been accepted, theirÌýloan(s) may be canceled.
Exit counseling
  • must be completed online.
  • Loan exit counseling is required for students who have petitioned to graduate or whose enrollment has dropped below half time as well as have been aÌýrecipient of federal student loans. Repayment of federal student loans begins six months after graduation or six months after a student is no longerÌýenrolled at least half time. When exit counseling is required, you will be notified via your WMU email that you have an outstanding requirement toÌýcomplete. You can find out about your loan debt, repayment, deferment and forbearance options by visiting and logging in.

Ìý

  • Student working with staff, WMU Financial Aid office.

Private alternative loans

Once you have exhausted your eligibility for federal and state financial aidÌýand loans, you may need to consider applying for a private educationalÌýloan, also called an alternative loan. These loans are not federal studentÌýloans. They are offered by private lenders and are used to supplement yourÌýfinancial aid.

  • Get details and see our preferred lender list

    Private alternative loans typically have less favorable rates and terms than federal direct loans, and each private student loan program varies.ÌýTo assist students to make informed decisions about private alternative loans, WMU Student Financial Aid has created an alternative loan worksheet. In addition, we encourage students to complete the short tutorial titled Financial Fundamentals that is provided by ELM on their website prior to viewing lender options. The Financial Fundamentals provides more information on the private loan process including:

    • Estimating cost of attendance
    • Creating a budget
    • Exploring funding options
    • The application process
    • Loan disclosures for terms and conditions
    • Student self-certification requirements

    WMU will certify private alternative loans from any lender that a student chooses. Since WMU works with a variety of private loan lenders, we utilize the lender sending any required loan disclosures to notify borrowers of the terms and conditions of their chosen private loans.Ìý

    Private student loan borrowers must complete the Private Education Loan Application Self-Certification Form when applying for a new loan. The form helps to ensure the borrower understands how financing their education using loans may affect eligibility for other financial aid.Ìý The form is required by the Department of Education for all private student loans when a borrower uses loans for post-secondary educational expenses while attending a higher education institution. It is not required for federal student loans. The lender will let the borrower know if they need to complete the form during the application process.

    When determining how much to borrow, plan to borrow as little as possible. The long-term cost is an important factor. If you have questionsÌýregarding financial aid, please contact Bronco Express. For more information about a particular private alternative loan, please contact the lender.

    Preferred lender list

    WMU has identified private lenders to appear on our preferred lender list through . By visiting ELMSelect, you will be able to compareÌývarious loan options from these lenders and apply for loans utilizing the . WMU will work with any other lender of your choice,Ìýbut you will need to contact them directly.

    Lender selection policy disclosure

    The lenders and loan options presented in ELMSelect were selected for the excellent terms and benefits they provide to borrowers. We reviewÌýthe lender's interest rates and fees, borrower benefits, loan options available to students, high standards in customer service and importance inÌýfinancial education. All of the information provided on the Loan Options page is reviewed every three years to ensure that the benefits that theÌýlenders offer continue to adhere to our criteria. Any loan options that no longer adhere to our criteria are removed, and new loan options areÌýadded. At least two lenders will be presented to you at all times. You are free to choose any lender, including those not presented. ApplicationÌýprocessing will not be delayed unnecessarily if you choose a lender not presented. Our officials are prohibited from accepting any financial orÌýother benefits in exchange for displaying lenders and loan options in ELMSelect. Prohibited activities include: receiving compensation to serve onÌýany lender board of directors or advisory boards; accepting gifts including trips, meals and entertainment; allowing lenders to staff our institution'sÌýfinancial aid office; allowing lenders to place our institution's name or logo on any of their products; and owning of lenders' stock (for collegeÌýofficials who make financial decisions for our institution).

  • Students working together, Haworth Business

Short-term loans

Short-term loans are available on a limited basis for books at the beginningÌýof each semester or session or for emergency situations throughout theÌýsemester or session considered on an individual basis. To apply for a short-term loan, please see a student services representative at Bronco Express.

  • Eligibility
    • Registered for classes for the semester or session.
    • Not a WMU employee.
    • No past due charges on billing account.
    • WMU account is not and has never been in collection.
    • No outstanding non-sufficient funds (NSF) checks.
    • No history of three or more NSF checks.
    • Not in default on a federal loan.
    • No monetary registration hold.
    • The loan must be for books or emergency-related educational expenses.
    • If "current balance due" is not zero, financial aid for the current semester is pending and the student meets the criteria listed below:
      • Financial aid pending for current semester must be sufficient to cover current balance due.
      • All requested financial aid documents have been submitted.
      • If receiving a federal DirectÌýSubsidized or UnsubsidizedÌýLoan, a signed Master Promissory Note and entrance counseling is needed.
      • If receiving a federal Direct Parent PLUSÌýLoan, a signed Master Promissory Note is needed, approved credit check and authorization by the parent that the short-term loan may be paid by the federal Parent PLUS Loan.
      • Meet the enrollment requirements for programs awarded.
      • Meet theÌýsatisfactory academic progressÌýrequirements for financial aid purposes.
  • Books and educational emergencies

    Books

    You may receive up to $500 or the cost of books—whichever is less—if the:

    • Student has not received a recent refund, and
    • Pending aid is enough to cover balances owed as well as book loan amount.

    Educational emergencies

    • You may receive up to $500 if the:
      • Account balance is paid in full, or
      • Current semester's financial aid is pending and it is sufficient to cover balance owed.
    • Individual circumstances considered if you still owe a balance for current semester or session.
    • Need documentation of bills owed (e.g., eviction notice, shut off notice, etc.).
    • Funds requested are for education-related expenses (e.g., rent eviction notice, medical care, utilities shut off notice, transportation repairs, food orÌýchild care).
    • Loans are not approved for credit card bills, long distance telephone charges or cable television.
    • Checks are issued to the vendor and the student and are available in 24 hours at Bronco Express.
    • For extenuating circumstances only. Not intended for repeated use.
  • Repayment
    • Loans are generally due in 30 days but no later than the last day of your enrollment for the academic year.
    • If not paid by the due date, you will incur a service charge at 1.5% a month on the unpaid balance.
    • Delinquency in the repayment of a short-term loan will prevent future registration or release of transcripts.

More funding opportunities

  • Federal student grants: A federal student grant is a type of financial aid that you don’t have to pay back. They come in the form of the federal Pell Grant, the federal Supplemental Educational Opportunity Grant and the federal TEACH Grant.

    Explore federal offers

  • Institutional scholarships: Scholarships and grants are types of financial aid that do not need to be repaid. They are a great way to pay for your education and may reduce the need for student loans.

    Explore institutional offers

  • State of Michigan scholarships: Residents of Michigan may qualify for scholarships or grants. The state of Michigan will notify WMU of student eligibility, and the financial aid office will offer students accordingly.

    Explore Michigan offers

  • Private scholarships: Private scholarships are free funds from sources outside of WMU. Scholarships that are received from a private source must be reported to the University and must be factored in to existing student financial aid offers.

    Explore private offers

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