Loans

The University Office of Financial Aid (OFA) administers the Federal Direct Loan and the Federal/Michigan Work-Study Programs. MSW students must be enrolled for a minimum of 9 credit hours per term to be eligible for the Federal Direct Loan and college work-study programs. U.S. citizenship or eligible noncitizen status required.

The following types of financial assistance are awarded by the University’s Office of Financial Aid, which is located on campus at 2500 Student Activities Building, 515 East Jefferson. Please note that the University of Michigan participates in the Direct loan program, and therefore does not process unsubsidized loans, or Grad PLUS loans through private lenders.

Federal Direct Loans

In 2024-2025, eligible MSW students received up to $10,250 per term in federal Direct unsubsidized loan aid. Federal Direct unsubsidized loans are non-need-based.

Note: Graduate/professional students are not eligible for subsidized Direct Loans.

Grad Plus Loans and Private or Alternative Loans

Many students find that supplemental borrowing becomes an important resource to finance educational expenses. The Grad Plus loan and private non-need-based loan options may be of interest to those who meet the following criteria:

• Have little or no eligibility for need-based financial aid programs
• Need additional assistance to pay college costs after other forms of aid have been awarded
• Are classified as nonresident students and need additional resources to "fill the gap" between need-based financial aid and college costs
• Have unusual costs above the standard cost of attendance budgets used by the Office of Financial Aid

In some cases, the variable interest rates available through federal programs (such as the unsubsidized Direct loan and the PLUS Loan) are lower than the rates for private loan programs. Students should compare the terms and interest rates of these loan programs carefully.

For information on private, non-need-based loans, visit the private loans section of the Office of Financial Aid website.