The University of Montana understands the importance of funding your education. Nearly every student is eligible to obtain financial aid to assist with the cost of their education. To be considered for the maximum amount of aid, please submit all application materials and the FAFSA by February 15. If you have any questions about this process please contact Financial Aid at (406) 243-5373. Here’s more helpful information:
Apply For Financial Aid
- Apply for admission and submit all support documents to The University of Montana as early as possible.
- Complete the Free Application for Federal Student Aid (FAFSA) as soon as possible after January 1. Students who complete the FAFSA by February 15 will receive priority processing for federal student aid.
- Within a few weeks of completing the FAFSA, you should expect to receive information regarding your Student Aid Report (SAR) or SAR Information Acknowledgement. Review this information carefully.
- Submit all documents requested by the Financial Aid Office as quickly and possible. Keep a copy of your and your parents’ 2010 federal income tax forms, as you may be asked to submit signed copies of these documents for verification.
- Respond to financial aid notification by accepting all, part, or none of the financial aid offered.
Tips to avoid delays
Tips to avoid delays
When completing the FAFSA, it is important to:
- read and follow the instructions
- use your correct Social Security number
- list UM’s federal school code: 002536
- properly sign the application
- not leave anything blank unless the instructions tell you to do so
- Use the appropriate line number references when filling out the income, earnings, and benefits section with a 2010 federal income tax return
Understanding the College Price Tag
Confusion abounds on “how much will it cost to attend college” and there are many reasons why this number is difficult to determine. Colleges and their Financial Aid Offices use several different values. The UM Financial Aid Office breaks costs into three primary categories:
- Basic Educational Costs: This is the tuition and fees charged by the institution for the classes enrolled. These figures at The University of Montana are relatively low when compared with other comparable institutions.
- Direct University Charges: Typically, direct charges listed in publications include the cost of room and board along with tuition and fees.
- Total Costs (or Financial Aid Budget): This “added” figure includes miscellaneous expenses such as: books, supplies, clothing, transportation, and all other living costs for the period of enrollment. At UM, the budget is generous and allows more than $5,000 above the Direct Charges. While students will NOT be billed directly from the University for these expenses, they can add significantly to the cost of education. Families are encouraged to consider these additional costs and to consider ways to minimize added expenses. Please note: NEVER compare “Total Costs” from one institution to another. Allowances vary greatly depending on the philosophy of the institution and are subject to family spending choices.
Question: How Much Money Do We Need?
Actual costs for college will vary greatly between individual families. If you are using student or parent loans to cover these costs, it may be prudent to consider spending as little as one can and keep loans to a minimum. Here are some suggestions to consider:
- WARNING: Financial aid with qualified parent loans for dependent students can provide 100% of the Total Costs if requested. If the student and family can cover everything but the Direct Charges, a family will have reduced a four-year debt by more than $20,000!
- The University of Montana encourages students to work during the summer and during the academic year (up to 20 hours) and use this money to cover incidental and miscellaneous expenses during the school year. To learn more about student employment please visit Career Services.
- Keep non-educational costs to a minimum such as leaving cars at home and using the bus, avoiding excess in dining out, lattes, travel, and other expenditures that may be optional.
- A college degree is well worth the purchase price, but if finances are a concern, make wise decisions along the way and it will be an even better bargain!
Contact the Financial Aid Office if you have any questions.
