Student Financial Data

• Financial Information
  such as bank accounts used to process refunds
• Financial Aid Information
  such as parents’ income, dependency status, scholarship/loan type and amount, work study terms, FAFSA verification documentation
• Logging Information
  such as browser and operating system used, date and time of login, length of session, page visits, transaction timestamps

The University of Michigan uses student financial data to enable:

• Service Support
  Ensure system stability and positive user experience by monitoring service performance, maintaining a reliable record of transactions, and providing end-user support.
• Administration Processes
  Support processes associated with paying for education.
• Institutional Planning and Reporting
  Analyze aggregated data sets to identify and respond to trends.

The use of student financial data for the purposes outlined above is safeguarded through several mechanisms, including Information Assurance, the U-M Standard Practice Guide, and the U-M Data Governance framework.

• Directly
  when you provide it to us by completing forms and updating your information in M-Pathways Student Business, etc.
• Automatically
  when student administration systems generate and store data based on visits, interactions, and system automated rules.
• From U-M Staff
  when they record information on financial aid awards, etc.

The University of Michigan does not sell or rent your student administration information. We share it with:

• Service Providers
  that support and audit student administration systems and services offered by the university. We require our service providers to keep your personal information secure and use it only for providing services on the university’s behalf.
• Government Entities
  that have mandatory reporting requirements, such as:
  • The Department of Education where we provide federal loan information
  • The Internal Revenue Service where we generate form 1098-T for every student annually
  • The National Science Foundation that requires all U.S. academic institutions granting research-based master's degrees or doctorates in science, engineering, and selected health fields to provide aggregated information about the primary source of financial support of their students.

Personal information may also be shared when required by law, or to protect the safety, property, or rights of the university, its community members and guests.