<p>So, I am definitely applying for EA to the University of Michigan, and my application is just about ready, but I was wondering how is the financial aid. In other words: are they generous? I don't want to get into specifics, but my family income is well below $60,000 and my academia is also very good. So, what kind of financial aid package should I expect/hope for?</p>
<p>IS FA is substantially better than OOS. Does the fact that you took Econ 201H at MSU as part of a accelerated program indicate that you are IS?
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<p>Emzee - If you are instate, I would expect that most (>80%) of your tuition will be paid by michigan/federal grants. Your housing and other stuff will probably need to be paid by yourself but your aid award should give you enough loans to cover that.</p>
<p>Emzee, Michigan attempts to meet 100% of demonstrated need for in-state students, based on the description of your family’s income and assets using its own institutional methodology from the CSS form. Fill out the CSS form as early as possible.
UM’s definition of demonstrated need, however, might still surprise your family if there are liquid assets or large amounts of equity lying around, so assess yourself as early as possible and keep all your options open. UM is a little more expensive than some of the other in-state schools, so I do know of families who chose, for example, MSU by virtue of the fact that MSU turns student loans into grants for VERY low earning families, thus avoiding debt on graduation. That said, I personally feel my son is getting every penny’s worth at UMich, and that the school offers excellent and unparalleled value for in-state students! Good luck!</p>