Chances of getting a UMich full ride/tuition?

I know nothing is really concrete about the cut for full rides to UMich, but I was just wondering if I’d a strong candidate for it. I’m going into mechanical engineering, I have a 34 ACT, 5.0 unweighted GPA (our school is on a 5 point scale), and top 5% of class (we don’t have ranking). I took/am taking a total of 8 AP classes, my total parent income is about $53k/yr, and I am a female and ethnic minority. I have about 200 total service hours, many strong leadership roles (i.e. Math Honors Society and Science Honors Society VP, Student Council, President of Physics Club, etc.), and I work every day to help support my family.
Thanks in advance!

Info that might make a difference: I’m out of state.

How does out of state and in state make a difference? I am unaware and curious.

That makes a big difference. UMich offers free tuition to in-state students with less than $65k family income. For OOS with less than $90k income, your need will be met but you still need to pay your EFC while part of the aids are loan and work study. You should check their NPC for your cost. For merit aid, you are not likely to get anything big, if at all. 25% or more enrolled freshmen at CoE have ACT 34 or higher.

@mangorock It’s always dangerous generalizing, especially when it comes to financial aid, but I did work with an OOS student last year whose family income was roughly what you describe. While I don’t know specifics of her family situation, UM did give her a very generous FA package with a minimum EFC (I think she said it was $2-3k). She mentioned that she received the Provost’s Award and as a result only was expected to borrow about $5k in subsidized loans.