The Free Application for Federal Student Aid uses a federal formula to determine an amount which the family and/or the student is expected to pay toward the student’s expenses. This amount is reported to the Financial Aid Office. The family contribution is then deducted from the student’s budget which estimates all reasonable and moderate expenses for the period of enrollment.
Once the maximum amount of aid eligibility has been determined, the Financial Aid Office prepares a financial aid package. The Financial Aid Administrator will award in this “package” a combination of grants, scholarships, and loans to help meet the student’s financial need.
The completed financial aid package is submitted to the student for acceptance in an AWARD LETTER. The student may accept the package in part or in whole. If certain programs are rejected, they will not necessarily be replaced with aid dollars from other programs. The AWARD LETTER must be accepted through http://myfinancialaid.umhb.edu by the stipulated timeframe or the offer becomes void.