Thanks. This is my first rodeo (and last) in the college admissions world. Thank goodness.
I’m sure there was advance notice- not questioning that- I was just surprised as I haven’t had a reason to explore financial aid issues until now and I don’t keep up with FAFSA changes.
Thanks for the heads up.
Btw, you wouldn’t believe the number of people who tell me not to worry bc schools will take our situation into account! I’m like, huh??
What situation?
You were smart to also look for guaranteed merit aid if finances are an issue.
If your income is over a certain threshold, regardless of what the FAFSA EFC says, unfortunately UMich will not give any need based financial aid. They were not able to share what that threshold is.
UM gives “free tuition for up to four years for high-achieving, in-state, full-time undergraduate students with family incomes of $65,000 or under and assets below $50,000.” This is in their website.
They do use the CSS Profile, which collects additional financial information compared to the FAFSA. It’s possible that some students who do not qualify for the Michigan Promise, but who have a low FAFSA EFC, may not qualify for need based aid due to the Profile information and/or the addition of self employment deductions back into the formula.
I believe the OP of this thread is OOS…as they had a COA of $67,000.
In that case, the second part applies … UM May calculate an EFC that is higher than the FAFSA EFC, and to my knowledge, they do not promise to meet need for OOS students.
AFAIK, Michigan does not guarantee to meet full need for all accepted OOS students. And need is calculated using the data on the Profile, not the fafsa.
In addition, merit aid awards have decreased both in amount given and number of students receiving these awards.
All the OP can do is wait and see at this point.
@dmvmomx2 This is incorrect. Michigan meets full need of OOS students with family income <$90k and low assets.
The university also provides need-based financial aid to out-of-state students and meets full financial need for those students from families with incomes up to $90,000 a year.
That article talks about instate aid for families making less than $65k. I didn’t see anything for OOS students.
It’s there - I had to really look to find it, though (I ended up doing a search for $90,000). It irks me, because I live in Michigan. We have very little state aid for higher education, and our state competitive scholarship/grant has been eroded in recent years.
12th paragraph:
“The university also provides need-based financial aid to out-of-state students and meets full financial need for those students from families with incomes up to $90,000 a year.”
Just a hunch: Michigan would like to offer an ED option. They have to meet full need to do that, otherwise too many accepted ED applicants would decline offers on the basis of unaffordability. So perhaps they’re moving toward that.
Sorry if late to the conversation. My OOS D got quite a bit of merit scholarships for Michigan COE, but the vast majority was not through the college but through individual scholarships/grants. The trick is you have to apply for them and write a bunch of essays, etc… Nothing is ‘given’ or guaranteed, but there are a lot of opportunities for students on the departmental websites… My D’s total amount of merit scholarships increased each year through undergrad, and actually got a full refund from the school for her graduate year… Tuition was fully paid via a TA position, so the scholarship funds went right to her bank… good example, did you know if you participate in the Michigan Marching Band you can get scholarships? 6k her Senior year…