For Private Scholarship Providers: Setting Up EFT
The Office of Financial Aid at the University of Michigan-Ann Arbor would like to equip organizations with the option to submit scholarship payments by Electronic Funds Transfer (EFT).
Set Up Your Organization's EFT
The procedure to set up EFTs with the University of Michigan is twofold: First, you will need to set up the banking and account information, and second, you will need to contact our office when you submit a deposit.
Note: If you already submit payments to U-M using EFT, please ensure that you are also following the guidance as outlined below in Step #2.
1. Establish an EFT Account with the University of Michigan-Ann Arbor
Please submit your request to set up an EFT account here. Most organizations have an existing EFT certification form for the receiving institution to complete and this template form for the university should be attached for us to complete at the time of your request. If you do not have an existing form, please note this in your request.
Once your paperwork/request has been completed by our office, we will reply to you with the appropriate account information for EFT payments.
2. Notify the University of Michigan
Submit your electronic payment to the University of Michigan-Ann Arbor at electronicpmts@umich.edu with the following information:
- Name of organization
- Student name(s)
- Student U-M ID number(s)
- Amount of the scholarship
- Term in which payment should be applied (i.e. fall term, winter term, or full academic year). Unless otherwise noted, U-M will apply funds to the full academic year, dividing them equally between the two standard academic year terms.
We continue to process physical checks for organizations that elect not to use the EFT option.
If you have additional questions related to outside scholarships and financial aid, please contact our office at financial.aid@umich.edu. Thank you.