How do OOS afford Michigan?

Colleges and Universities A-Z University of Michigan
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<p>First of all I really want to go to UMich for engineering, but that seems like an impossibility. I live with my Mom who makes a small income (Just lost her job, but hasn't been 10 months yet), but my dad makes 6 figures. Luckly he has agreed to give me 10,000 a year. The Fin aid department only gave me 13,000, 6000 of which is loans. I have a 28,000 gap, requiring 34,000 in loans. Even if I recieve sholarships how does Michigan except me to afford the school? In fact how does any OOS afford UMICH, unless they're dirt poor or rich?</p>

<p>Lol, any advice? I'm willing to go 50,000 in debt put anything more is insane. And is it likely that I could recieve future scholarships if I do crazy good freshman year? Thanks.</p>

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<p>Try and get your dad to pay more. Maybe get a loan from him. Maybe talk to the financial aid office about how your situation has changed. If none of that works, defer enrollment and get a job (you should be able to make 30,000 if you work for a year), or get a job at college or during the summers.</p>

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<p>50k is too much debt to take on. Even $40k is too much if you ask me. If you can manage to graduate with $20k debt, you’ll be fine…anything signigficantly over that isn’t worth it…even if you were considering MIT…and Michigan ain’t MIT!</p>

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<p>Alexandre I have no idea how it would be possible to get out of school with only 20k in debt. Only with the 6k per year gov loan with fin aid package I’ll be 32 in debt due to interest. This is true at my second choice school as well.</p>

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<p>Michigan is not worth $50,000 for OOS students. Even for engineering unless you can actually afford it. It’s more worth it at graduate school level. </p>

<p>I agree- ask your Dad if he can contribute more for Michigan brand name (there ARE parents out there who are superficial!). Does he have an opinion on where he’d like to see you go? If he says Michigan, then work out a deal with him. If he says elsewhere, then try talking with the Fin Aid department and perhaps the Engineering school/dept to see if funding exists for summer research at least (free summers!).</p>

<p>Loans are really the only way that any OOS can pay for an expensive public. There are a lot of scholarships but only for MI residents unfortunately.</p>

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<p>Ticklemepink, no university is worth $50k per year unless one is wealthy. Michigan is a top 20 university, so it is worth investing in. However, like I said, it is not worth getting going broke just to attend any university.</p>

<p>xc2009, I would recommend you go for the most “reasonable” option. If your father is willing to own up to his responsibility and gives you more money, go for Michigan. Otherwise, go to a school that will allow you to graduate with a manageable debt (no more than $20k-$25k.</p>

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<p>Alright, just calculated I’ll be 17,500 (might go down as low as 10,000 in which case I would go no doubt, but this is worse case scenario) in debt freshman year without any scholarships (I’m trying to get more and have yet to get some back) and that’s with my Dad giving 12,000 a year which is pushing it. My mom and I are going to call the fin aid department and voice for an appeal because it is just me and my mom, but I know it probably won’t work, hey but a couple thousand more in grants could save me. </p>

<p>I know all of your are saying no no no loans, but lol this is my life and its been my dream (I know that sounds dumb) to go to a great engineering school and most of you saying that are already at Michigan. Anyways, if I don’t get enough scholarships next year to keep me afloat I’ll have to transfer to a less expensive school. </p>

<p>Lol, Am I crazy for thinking I can get scholarships (if I apply to a ton of them) that keep me from going more than $50,000 in debt (no offense but to me it’s worth it for what I plan to do at UMICH)?</p>

<p>Happy Easter and thanks for any advice (well any advice that agrees with me haha).</p>

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<p>^Do those calculations involve getting a job while at school or during the summers? At the rate you’re going at, it seems like every dollar will make a huge difference. Do you have anything (car, bike, computer, TV, xbox, etc.) that you could sell?</p>

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<p>Haha senior0991, yeah I can sell by xbox and car and get like 2000, but I think I’ll need my pc. I’m just trying to do whatever I can to get in freshman year. My plan is to reduce my loan as much as possible for freshman year. </p>

<p>Hypothetically, what if I get nearly perfect grades freshman year in engineering, get into reasearch, and extracurriculars. What are my chances for scholarships?</p>

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<p>Worth it to me. until government create new prestige brand tax bill.</p>

<p>Usually people spend $80,000/4y for state college in state base</p>

<p>UM OOS need $200,000/4y, difference is $120,000.</p>

<p>$120,000 is not bad at all as life long investment for great prestige + education, also we might meet with great girl /boy at UM as well.</p>

<p>putt off 1st and some 2nd years starting salary, pretend no job or still attending college. that’s it. all yours.</p>

<p>much more cost for us own brand new Lexus to show prestigious all life long.
remember UM brand go with us anytime every where without any hidden cost. All free after graduate.
And our UM prestige still active for our grand child college admission/job hunting even after we died. plus no tax on UM brand name heritage. Priceless</p>

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<p>Umm Wov2013 I’m not sure Michigan is worth 120,000 for engineering/overall school experience. Maybe if your only other option is a really crappy engineering program but that’s not what I’m comparing UMICH to. I’m trying to cut costs and get more scholarships.</p>

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<p>I wouldn’t go to UMich solely relying on getting a scholarship after your first year. I still think the best option is to take a gap year and work, or go to college and work during the school year and summers, if you still have too much in loans and can’t get any more money from the FA office.</p>

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<p>cut costs and get more scholarships: it is your issue.</p>

<p>most of state colleges are crappy to me when compare to UM.</p>

<p>Best of luck for you.</p>

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<p>Na senior0991 I’m not taking a gap year, sorry but to me that doesn’t make any sense, I have other options.</p>

<p>My question remains: If I did extremely well freshman year what is the probabilty I could receive Umich and/or private scholarships?</p>

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<p>that’s very unfortunate to hear that. I believe if you do work hard, you will be eligible for their engineering scholarship. as for my case, I’ve received 20k scholarship of engineering in requirement of keeping 3.0 gpa. I am OOS from ny.</p>

<p>Try sending them a letter with your situation. Whenever you call, they say send us a letter and we’ll consider. Doesn’t hurt to try right? Wish you the best.</p>

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<p>Sjdanad26 so you are suggesting I write the engineering admissions department explaining my situation? Did they suggest doing this to you? </p>

<p>Well I called the Fin aid department and they said that there is nothing that they can do to help me, O well.</p>

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<p>Wait, what do they do with the scholarships given to students who do not enroll?</p>

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<p>i got 25k in aid(grants,workstudy), but still have a 20K+ gap… idk how i’m going to close this gap… the worst probably loans(but very unlikely,20k loans/yr is too much); if not, i’ll probably attend my safety school or see other options.</p>

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<p>i got 20k scholarship plus 12k grant etc… and i gotta pay 5k with 4k work/study so i haven’t complained at all…</p>

<p>but other schools i’ve called, I asked if there’s any other way, and they would usually go, write us a letter explaining your situation and maybe it’ll help. hey I even went to another school directly and they still said write us a letter, stupid eh?</p>

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<p>Well I’m in the exact same boat as xc2009chc.
This is my current Situation:</p>

<p>M-STEM Academy: $3,000
University of Michigan Grant: $11,128
Federal Funding (Pell, ACG): $9,100
Work Study: $3,000
Federal Loans: $6,000
Feasible Private Loan: $2,500
Scholarships: $??? (Pending)
EFC: $0</p>

<p>Total: $34,728</p>

<p>Cost of Attendance: $44,991</p>

<p>Gap: $10,263</p>

<p>This is all the AID I have been able to come up with. I originally had a gap of 16000, but via private loans and the summer internship I lowered it a lot. I am currently enrolled in a few essay contests, A LOT of minority scholarships (seriously like at least 16), some unmet need scholarships, and my dad’s income tax return was $4,000. From those $4000, I may be able to convince him to give me $2,000. Plus I can make him pay $300 a month for 10 months and make $3,000 off of him. </p>

<p>So if my “diabolical” plan, works I should have (without scholarships)
Dad’s Fortune: $3,000 + $2,000 = $5,000</p>

<p>New Gap: $5,263</p>

<p>So, hopefully, some of my scholarships come through and I make it past the first year.</p>

<p>(I may have to resort to illegal means in order to get through the second year:D) But I checked and there are scholarships available for sophomores who were in good standing as freshmen. I’m working my ASS off freshmen year to make sure I’m on top. (I plan on double majoring in Business and Engineering (Operations Research and MechE or IE))</p>

<p>I’m sharing my challenge for good reason; I’m trying to help a fellow OOS’er. You still have time to apply to the M-STEM academy (if you were invited) and sometimes working off the books in certain areas can earn you $4,000 in the summer. (usually horrible and dangerous jobs)</p>

<p>I’m considering joining the ROTC… but I’ll see how that’s gonna go. I’m thinking I could live in my parents house for a year rent free after my degree and just focus completely on working and lowering my debt, lowering it as much as I can, so the second year I can go ahead and live on my own.</p>

<p>And like OP said, any advice appreciated.</p>