<p>How much financial aid will I be offered at the University of Michigan Ann Arbor?</p>
<p>I am coming from a low income family making $60,000 a year.</p>
<p>I am a First Generation College student.</p>
<p>Also I am an Out-Of-State applicant coming from Florida.</p>
<p>I just want a rough estimate. My parents have been asking about costs and financial aid. So I really want to know.</p>
<p>Thanks.</p>
<p>^You’re not quite low enough income to receive much of the fed pell grant (I think) but that’s only $5500 and the truth is that UMich is exceptionally expensive for out os state students, especially “middle class” – and 60k is a little closer to lowish-middle than the kind of “low income” that nets major aid (low income of that ilk is $20,000…)</p>
<p>Michigan, as a state school, also does not commit to funding full need of out of state students. So, the bill would be for tuition, fees residence, etc. about $48k, and you’ll be entitles to $5500 in fed LOANS (not grant) – so that’s a big gap to have made up in terms of benevolent grants (although sometimes Michigan DOES make up those gaps…)
Go to [FinAid</a>! Financial Aid, College Scholarships and Student Loans](<a href=“http://www.finaid.org%5DFinAid”>http://www.finaid.org) and run a calculation to see what your family’s “EFC” (expected family contribution) would be.</p>
<p>Without having any idea of what kind of ACT scores you will have, etc. etc. etc., and even if you had them, it is impossible to say how much aid via grants or scholarships you might get. Michigan is also a CSS school, meaning if your parents have assets such as a house mostly paid for or a business, that will influence the aid situation as well.</p>
<p>Not to discourage you, but in your earning range, UChicago would be exactly a free ride due to their policy and what they call “low” income. Ivies, such as Princeton etc. would also not expect your family to contribute more than 10% of their income at that income level. But Out of State, publicly funded schools such as UMich or UC Berkley are generally not likely to be “competitive” in terms of the “fin aid package” (compared to generous privates like U Chicago, Northwestern, Ivies, etc.)</p>
<p>The best way to plan for next year is to apply to a wide range of reach, match and safety schools from the vantage of FINANCIAL safeties as well (eg. STATE schools in your own state or with tuition reduction plans for OOS) but still take your shots at the UMich type schools. Good luck – now go research it ;)</p>
<p>well for an American Indian such as yourself… no, just kidding</p>
<p>truth is you are OOS, and not really THAT low income. I had a lower family income the year I applied (thanks to real estate going to ****) and I didn’t get anything (also OOS). But, the main killer was we had a lot of many saved up for college, so they looked at that and said f u.</p>
<p>If your family doesn’t have a lot to the side, or maybe they care more about the 1st Gen thing than I think, then you might get some. I wouldn’t expect a ton, if any, though</p>