How Financial Aid Works

Check out our Financial Aid Booklet, How Financial Aid Workswhich will provide you with valuable information about financial aid and student employment as a resource for aid. Some of the highlights in this booklet are financial planning, information on maintaining your financial aid eligibility, what happens when your circumstances change, and a glossary of financial aid acronyms and terms.

Satisfactory Academic Progress (SAP)

Federal regulations require that a student has met — and continues to meet — some basic satisfactory academic progress standards before receiving federal financial aid. By keeping up your good grades, you will continue to keep your loans.

Every school's SAP standards include three components:

  • A qualitative measurement component such as a GPA
  • A quantitative measurement component referred to as the student's pace rate
  • A maximum timeframe of program completion

Please be sure to review UM's SAP policy. If you have any questions, contact the Office of Student Financial Assistance and Employment at 305-284-6000.