Hey everybody, just a quick question. I intend on applying here next year but is it true that I can not get any financial aid as an out of state student? If I can how generous is umich with financial aid? I wanted to apply to schools like stern too but I know I won’t get enough fa there.
Try their NPC. In general, OOS would not get much need based aids. However, students from very low income family do get very generous offer from UMich.
It is not true that OOS students get no financial aid. As mentioned, try the net price calculator. It was surprisingly accurate for us. When I called financial aid and asked how accurate it was, they said very. Usually within $500. They were true to their word. We are not a low income family but will have a few kids in college this year, so perhaps that helped. Good luck and don’t believe everything you hear because we thought the same thing and were pleasantly surprised.
Ok thank you guys I’ll check out the net price calculator hopefully it’s enough!
If you do not come from very low income family, your COA at UMich as OOS is very likely to be higher than any comparable school. This is one knock I have on UMich. It is by far the most expensive option for my son. He wants to go to UMich very badly but a fact he will be buried into some serious debt is starting to dawn on him.
Michigan does NOT guarantee to meet full need for OOS students. You get what’s apportioned after they meet their in state needs. However, they do have merit money for high stat kids. It can be a sweetner that the cost is about $10K less than private colleges, and if you get that $10K merit money, it might be worth it financially. Some kids at son’s school are mulling this over. No financial aid that I know of in the picture, but I don’t think these kids qualify. BUt they are weighing Michigan at $20K less than BC, ND and some other schools that are selective, accepted them, but where they are full pay.
cptofthehouse,
Only way you are not going to get any money from ND or BC is if your family has very high income. You won’t get a dime from UMich anyway. CoA difference between UMich, and BC, ND is $5K at most.
The big merit scholarships from CoE and LSA for OOS are $20k/year. The same scholarships for in state students are $8k and $10k/year, respectively.
For the kids looking to go to UMich,
Financial package you will get will almost always be inferior to other schools.
UMich is a wonderful school that will open many doors for you but it will cost you.
If I apply ea will it increase my chances of getting good FA as there will still be more money available?
@anotherparent22 This is not a true generalization. UMich is expensive for OOS students who has little to moderate need for aids. For OOS students from very low income family, their need based aids are much more generous than most other public schools. Of course, you cannot compare it with top public schools that provide need based aids to all eligible students. However, it is one of the few schools that meet the needs of in state students. It is also one of the few schools that pledge to reduce student debt by grants. Indeed, it was recently voted among the top value schools.
@jvapor12 Apply EA is essential for getting more merit scholarships if you are eligible.
I am very pleased with the financial aid UMich has offered my son. We are in state.
I just found a major typo. So I put the correction below:
@anotherparent22 This is not a true generalization. UMich is expensive for OOS students who has little to moderate need for aids. For OOS students from very low income family, their need based aids are much more generous than most other public schools. Of course, you cannot compare it with top PRIVATE schools that provide need based aids to all eligible students. However, it is one of the few schools that meet the needs of in state students. It is also one of the few schools that pledge to reduce student debt by grants. Indeed, it was recently voted among the top value schools.
The difference last year in COA as defined in CDSs is about $7500 for Mich vs ND and BC. If Mich gives a $10K merit award,which they did to a number of kids I know, thatps a difference of $17500 right there. Times four years, that is not chump change. Friend and neighbor has a kid at Mich with a merit award of over $10K, don;t remember the number exactly. In last year there. The savings is about $80K going there over the kid’s other choices from full priced privates. Family would have paid it for Ivies or certain other schools, but not for anything less in prestige. They do not qualify for any financial aid. Michigan was their best prestige/price choice. The same is happening this year.
Even with a $40-45K pricetag, UM is still more than our SUNYS which come in at about $23K and even less if a STEM major, but there isn’t the luster and the three Rs for those schools.
cptofthehouse,
Don’t forget UMich has a bump in tuition in Junior year, average it out and you have $5k difference. It’s a moot point anyway, ND and BC are much more generous for non MI kids.
Also, my point about high cost of UMich is only meant for OOS students. Frankly, for MI kids UMich is an amazing opportunity.