<p>I received my estimated summary and for a year, i'll receive 23,400 dollars and the tuition is like 36,000..yikes..12,000 is still too much..Is there anything else I can do. I'm applying for scholarships but it's not looking good..:</p>
<p>SD, $12,000 for a Michigan education is an amazing deal. Are other top schools giving you more? You can always ask for more, but paying $12,000 for a top education is worth it.</p>
<p>alexandre, i checked online and it said i got Offered 25,000 but then only Accepted 18,000. The difference is what i was offered in loan money. Does this mean i will most likely just get 18,000?</p>
<p>I know its an amazing deal but a huge burden too if i include the other 3 years. My EFC on fafsa was 360.</p>
<p>correction 12,600..if this was on another board..i wouldve been attacked already hehe</p>
<p>Sonya and SexyDessi, you guys are certainly getting excellent deals. I am not familiar with the other offers you are gettingl but a Michigan education for $12,000/year is a bargain.</p>
<p>sonya- i see you were accepted 1/24/05...when did you get your merit money confirmation? was it from the engineering college or from financial aid dept? $18,000/yr merit money from u of m is really great! good luck in computer engineering...</p>
<p>hey eagle, the 18,000 is my financial aid package summary. they still have to get other documents so its not final yet. are you majoring in engineering as well?</p>
<p>they send you an email when they have a financial aid summary available for you. i got mine last week</p>
<p>I had an efc of 13,419, which i dont understand considering my parents only made a combined 58,000 last yr, and i was only offered 8,000. I NEEEEEED to go to michigan but 24,000 is just too unreasonable. Does my aid sound reasonable and does my efc seem correct based on income? ALexandre?</p>
<p>sonya- yeah- mech eng; since you turned away the 7,000 in loans, i assumed the rest was merit money..just wondered if it said where the $ came from... engineering has it's own funds and i thought it was from there. anyway...our efc was too high to be considered for any financial aid..i'm looking for merit money to help me decide for sure. i hope to be getting some type of confirnation soon..</p>
<p>Jarell, you are unfortunately touching on the one topic I am not knowledgeable about. I really know very little about the way financial aid works. One thing is certain. Paying $24,000 for an education for a family with an income under $60,000 is unreasonable. I hope you find alternate sources of aid. Please keep us posted.</p>
<p>Alexandre, could you tell me about how we're supposed to know of our merit aid or what criteria they use in determining it? I was really hoping for some because my financial aid package just says I'm getting $2600 in loans, and nothing about merit aid (which i was hoping i would qualify for). Do you know when and how I am supposed to know if I've done what it takes to earn this?</p>
<p>Just a quick question:
On the site there is a "offered" sum and a "accepted" sum. Which sum do I look at?</p>
<p>Chibearsfan, I really do not know enough about financial aid to answer your questions. It is one thing I am trying to learn more about, but I have never really looked into it until recently. I would guess Michigan gives out merit scholarships based a several criteria. What are your other options at the moment? What other schools are you considering and how much money are you getting from them? Your best option is to call the financial aid office at Michigan to see if there is anything you can do.</p>
<p>a27cool: the Offererd sum is what they are offering to give you. Then you accept the ones you want and decline the others.</p>
<p>It's not that I can't afford Michigan. My extreme lack of need-based aid demonstrates that, I think. The reason I'm so worried about it is that I was deferred EA to Stanford and waitlisted at MIT so my options are looking really uncertain right now, and Michigan is looking more and more realistic as I'm waiting for final decisions from Stanford, Harvard, and Princeton. Basically, if I'm going to go to Michigan, I'd rather not pay the same amount as I would for those other universities. I think I'd have the credentials necessary for merit-based aid, (National Merit Finalist, got into Honors college quite quickly, etc.) so I just want to know what's going on.</p>
<p>I just checked online, and it seemed that almost all of their scholarships for out-of-state students are based on merit AND financial need. Why don't they have any purely merit-based scholarships? It seems as though people with financial need get two sources of assistance (federal money AND scholarships) while the students who do not demonstrate a great amount of need get NO assistance. I'm sorry but this just doesn't seem fair to me.</p>
<p>I can see why it doesn't seem fair, but remember the University doesn't have enough money to meet the full need of non-resident students. There's a gap there. </p>
<p>So when extra dollars become available, or a donor wants to set up a scholarship, they've got a choice to make. Do they award the money to a great student whose family can afford to meet all of the college costs? Or do they award the money to a great students whose family who can't meet all of the college costs AND have a substantial gap between what they can pay and the aid they are already getting? I think the case of the student with the gap may be more compelling to donors.</p>
<p>Believe me, U-M wishes they had enough money to recognize high-merit kids from out of state, regardless of need. They also wish they could meet the full need of out of state students!</p>
<p>I definitely see your point hoedown, and that makes sense for a good amount of scholarships, but ALL of them? On another thread someone showed me an LSA scholarship for 70 students, but the only thing i saw advertised on Michigan's schoalrship site was for students who demonstrated need, and although that is fine as a criterion for some, it seems strange to require it for all scholarships. And whether or not a student can afford college, $35k a year is a really high amount for a state school. Call me inconsiderate, but the student with the gap can probably take out loans if he/she cannot afford the education and then pay it off afterwards because a uMich education is a uMich education and if both students are equally qualified they should pay about the same amount of money because both should not have much of a problem paying off loans out of college.</p>