Financial Aid E-Guide

Accept your Financial Aid Award

• Log in to the My Portal
• Click on Student Profile, then Financial Aid (Make sure you are on the right Award Year, found in the upper right-hand corner)
• Click on Home tab, then scroll down to Requirement Messages
• Please submit all required documentation as requested
• Click on Award Offer tab and determine the aid you would like to accept/click
• Submit Decision

Important: If you have accepted loans, you must complete the listed requirements or the loan funds will not pay out to your account.

My Portal

Obtain your FSA ID

The FSA ID, a username and password, has replaced the Federal Student Aid PIN and must be used to log in to certain U.S. Department of Education websites. Your FSA ID confirms your identity when you access your financial aid information and electronically sign Federal Student Aid documents. If you do not already have an FSA ID, you can create one when logging in to FAFSA, StudentAid.gov, and when signing an Agreement to Serve (ATS) at Teach Grant Program.

1. Go to Create New FSA ID.
2. When logging in to one of the websites listed above, click the link to Create an Account.
3. Create a username and password, and enter your email address.
4. Enter your name, date of birth, Social Security number, contact information, and challenge questions and answers.
5. If you have a Federal Student Aid PIN, you will be able to enter it and link it to your FSA ID. You can still create an FSA ID if you have forgotten or do not have a PIN.
6. Review your information, and read and accept the terms and conditions.
7. Confirm your email address using the secure code, which will be sent to the email address you entered when you created your FSA ID. Once you verify your email address, you can use it instead of your username to log in to the websites.

You can use your FSA ID to sign a FAFSA right away. Once the Social Security Administration verifies your information in one to three days, or if you have linked your PIN to your FSA ID, you will be able to use your FSA ID to access the websites listed above. Visit Managing Your Account on the Federal Student Aid website for help.

Borrow a private loan

You have the right to select any lender you wish for an alternative/private loan. Many lenders offer attractive terms and conditions which you can find by searching the internet. As always, Detroit Mercy recommends that students review all options and make educated borrowing decisions.

Detroit Mercy has partnered with ELM Resources to process private/alternative loans on the behalf of students at the University of Detroit Mercy. ELM Resources maintains a comprehensive list of lenders that have been used by our students during the past few years. This is by no means an exclusive list of lenders.

The University of Detroit Mercy does not recommend any particular lender and encourages students to compare different lenders to find the one that best fits their individual needs. You have the right to select any lender of your choosing.

1. Once you have selected your lender you can begin the loan process by completing the application on ELMSelect. Detroit Mercy will be notified of your request and will complete the school certification. If you choose a lender not on ELMSelect, you should coordinate your application process with Detroit Mercy's Loan Coordinator.
2. Select "Program Type."
3. Review the list of Lenders for Detroit Mercy - you may review the benefits and compare lenders by checking the compare boxes
4. Select a lender and click "apply." You will be redirected to the private loan website.

Note: Students may require a credit-worthy co-signer for private loans.

ELMSelect