Financial Aid FAQs - NMU Blog

Do we have to complete the FAFSA every year and when is the deadline?

The FAFSA (Free Application for Federal Student Aid) is the annual application for students to determine eligibility through federal, state, and many institutional financial aid programs, including federal student loans. After the first year, the application is streamlined to include basic information (name, address, email, etc.), so students only have to update items that have changed. 

We encourage students to apply as early as possible for each academic year. The new
FAFSA typically opens up on October 1st and is used to determine the student’s aid eligibility beginning the following fall semester. For 2025-2026, the FAFSA will be available beginning in December 2024. Michigan students have a “soft” deadline of May 1st, in order to be considered for certain state funds. Of course, the later you apply, the less funds may be available from certain aid resources, and most aid depends on being awarded during your period of enrollment, so earlier is always better!

The financial aid awarded isn’t enough; where can we find more money to help my student attend?

Federal Student Aid definitely helps students pay their college costs, but it is only a starting point. Students should begin researching private scholarships while still in high school, and then continue looking as a college student. There are scholarships available through Northern Michigan University’s Foundation (the application period is usually the mid-January through mid-February for the following year). See the Financial Aid Office’s webpage for Other Scholarship Options.

NMU has two payment plans that are available, see the Student Service Center webpage for details. https://nmu.edu/studentservicecenter/payment-plans/

Families can also review both the Parent PLUS Loan (a federal parent loan) and private student loan options early; if the student receives scholarships after applying for a private student loan, the loan can (and in some cases must) be reduced to make room for the free funds. Private student loans vary from lender to lender, so shop early to find
a lender you want to work with. We recommend applying in June for the upcoming academic year. https://nmu.edu/financialaid/

Does the Michigan Tuition Incentive Program pay for Room and Board? (note: TIP is for certain students who graduated from a Michigan high school only)

No, the TIP Program is a tuition-specific benefit. It will not cover Room and Board. But TIP will cover up to $450/semester in mandatory University fees.

Why isn't TIP Phase I covering all my tuition and fees?

TIP Phase I will cover only courses going toward your associate’s degree or approved certificate at the lower division tuition rate and only up to $450 in mandatory fees.  Work with your Academic Advisor or Student Success Specialist to ensure you are taking courses going toward your associate’s degree or approved certificate. If you are taking a required prerequisite for your program of study, contact fao@nmu.edu to verify it is covered by the TIP Program for your degree.

When can I request TIP Phase II and how much does it cover?

TIP Phase II can be requested once you have completed your associate’s degree or approved certificate or earned 56 credit hours. TIP Phase II is $500/semester towards tuition up to a cumulative award of $2,000. Once initiated, you cannot return to TIP Phase I.

I received an updated award notification; why did my aid change?

Any time that a school receives an updated FAFSA that changes your Student Aid Index (SAI), we will need to review the previously identified financial aid resources. Also, when we receive new funds for you (such as a private scholarship), or the estimated Cost of Attendance changes (such as when NMU’s Board of Trustees approves the tuition and fees for an academic year, usually in June/July). Any change to your enrollment can also potentially affect your aid, so be sure to talk with a financial aid advisor before dropping a class or withdrawing from a semester, so you are aware of how that may change your aid.

How will I be notified of missing requirements or changes to my aid?

Before you attend an orientation session, messages about changes to your aid or missing or additional documents needed to finalize your aid will be sent to your home address by paper letter. After orientation, and throughout the rest of your attendance, notifications are periodically emailed to your official NMU email address. You can also monitor messages about your aid in your MyNMU, under the Financial Aid-Information section.

I have a 529 college savings plan. Do I have to report it as an asset on my FAFSA?

Probably; if the plan is in the student’s name OR the parent’s name, it is reported under the PARENT’S assets on the FAFSA. However, if the plan is held by an extended family member, it is not reported as an asset. After the first year of attendance, you will report funds received from the 529 on your behalf the prior year on your FAFSA as “Money received or paid on your behalf, not reported elsewhere on the FAFSA.” You will also be asked to verify who the owner of your 529 plan is by the Financial Aid Office with a written statement.

Why do you need my step-parent’s information when my parent was not yet married to them in the tax year used on my FAFSA?

The FAFSA uses household resources to determine your financial aid award eligibility. For this reason, even if they weren’t married in the applicable tax year, your parent and step-parent’s information must both be submitted, because they now are one household. If you have questions about this, please contact our office at 906-227-2327.

My residency status changed from out-of-state to in-state, but now I lost one of my merit scholarships; why?

Our merit awards have different amounts for in-state and out-of-state students, some of which is meant to offset the added out-of-state tuition rates. If you are granted in-state residency, you will be charged at in-state rates, so your merit scholarships will be adjusted accordingly.