The University Loan is a short-term loan program designed to help students enrolled in the current term with unforeseen educationally related expenses. These loans must be repaid within 90 days.
To apply and be approved for a University Loan, you must:
- be enrolled full-time at the University of Michigan Medical School,
- have no financial or academic holds on your student record,
- have not received a short term University Loan in the last 90 days, and
- request a minimum of $100 and a maximum $1,000.
How to apply:
The fastest way to apply is online (the eULoan process) through Wolverine Access:
Go to https://wolverineaccess.umich.edu and select Student Business, then login using your uniquename and kerberos password, and then select Short Term University Loan
To apply online, you will need:
- your UMID
- your date of birth
- contact information for up to four references
- driver’s license or state identification card
Allow up to 15 minutes to complete the application and approval process. Note to Macintosh users: Wolverine Access requires that you use the Microsoft Internet Explorer web browser; otherwise, you will encounter problems that will prevent you from completing the electronic signature process.
Students are approved or denied automatically online!
If you are approved:
You will need to electronically sign a promissory note while online. Within two business days, you will receive an e-mail message to your umich e-mail account telling you that your loan funds will be disbursed and will be directly deposited into your bank account if you have a valid Direct Deposit authorization on file or mailed to your local address as it is listed in Wolverine Access if you do not have a Direct Deposit authorization.
If you are denied:
The reason for the denial will be displayed online. If you resolve the denial reason(s) within 30 days, you can update the eUloan application. Contact the Medical School Financial Aid Office if you have any questions.
If you would rather sign a paper application and promissory note, contact the Medical School Financial Aid Office.
- Carefully read your promissory note, including all the terms and conditions. Make note of your loan amount and repayment date.
- Notify the Medical School Financial Aid Office immediately if you are unable to meet your scheduled repayment date. Failure to repay your loan by the scheduled due date will result in the placement of a financial Hold Credit (Negative Service Indicator) on your student account. The final repayment date can be extended only under rare circumstances. Documentation of the circumstances may be required.
How to repay your loan:
Your University loan will appear on your student account. Student Financial Operations will send you an e-mail when you have a student account statement available to view on Wolverine Access. When you pay back your loan, be sure to request that the payment be applied specifically to your University Loan.
Method of payment:
- Mail your payment to or reply in person at one of the U-M Cashier’s Office locations. Cash or checks only; no credit cards accepted.
- Pay online through Wolverine Access (https://wolverineaccess.umich.edu).
Select View Due Charges/ Make a Payment
If you have any questions, please contact the Medical School Financial Aid Office by phone at 734-763-4147 or by e-mail at firstname.lastname@example.org.