<p>According to FAFSA, my EFC is 0. Umich's OOS tuition is around $33k and with all other things included, probably amounts to $40k-$50k+ per year. My family pretty much makes just enough to get by, having little or no savings, so I can't expect them to be able to pay large sums of money. And like most people, I do not wish to incur a massive debt for undergrad.</p>
<p>As an OOS prospective student (accepted ER), how much financial aid should I expect to receive? Is UMich even a choice that I should consider since I have been hearing financial aid isn't that good, especially to OOS-ers? </p>
<p>I received the Michigan Tradition Scholarship (10k/per year), but had to forgo it up since I did not want to be binded to the school by sending in a deposit before my other decisions & FA packages arrived. Basically, that scholarship is gone.</p>
<p>So what should I expect to pay if I go to UMich, with all grants and UMich scholarships taken into account? Is UMich, honestly, in any way, affordable - or even worth it - in my circumstances?</p>
<p>Polarize, you need to call the Financial Aid office asap. It may be possible to get the Tradition scholarship back if Michigan is your first choice (assuming the aid works out). Recipients of the scholarship received an email indicating that the deposit did not need to be made by 2/15 and to please inform the Aid office of your plans. They are very nice and very helpful. Please call them.</p>
<p>I was OOS, I had an efc of like 400 dollars, Michigan gave me 70% need based grants, 20% loans. (Federal loans with low interests) Michigan will make it affordable for you, even if you are OOS, but you may end up with a nice chunk of debt(I had 30k, which was nothing really). I found that Michigan room and board was cheaper than a lot of comparable schools'.</p>
<p>Polarize, I hope you've already called Fin Aid dept re: getting the tradition back. Here's a little more info...other people have successfully had fin aid extend the deadline to consider the package. Even if they don't, you can accept (as long as you don't accept anywhere else) and with your EFC being zero, request a waiver for enrollment deposit if it would cause fiscal hardship for your folks right now. If you, after reviewing your packages, change you mind and want to attend somewhere else, you can cancel your acceptance. Normally you'd forfeit the deposit (this is the only penalty) but if the fee is waived...then you're golden.</p>
<p>Really, really, really act fast to get that Tradition scholarship back. That's a huge chunk of your future indebtedness alleviated.</p>
<p>Thanks everyone for all your caring words and suggestions. I have actually contacted them before regarding my situation and the michigan tradition scholarship, but they said since I can't give in the deposit by the scholarship's deadline (2/15) I would have to pass it up and I won't be able to appeal for it. Perhaps I'll try and contact them again.</p>
<p>Unfortunately, UMich at the moment is not my first choice, and so I do want to I guess "go against my conscience" telling them that they are my first choice just so they give me back the scholarship and/or waive my enrollment deposit. Likewise, if I pay the enrollment deposit (or get it waived) and then don't enroll, I would feel bad throwing out the trust and agreement that was established with the deposit (even though it's not binding). And feel worst if I lost $200 lol. </p>
<p>And thanks kb10, for telling your story. I guess 30k debt, if you meant total debt for undergrad, isn't too bad compared to some other students. So I guess it's proof that UMich can be affordable to an extent.</p>
<p>There's probably a fair chance that UMich will be the only top school that I can consider come april/may. I'll see what I can do about the financial aid and the tradition scholarship. Either way, my sincere thanks to everyone for all your concerns and helpful advice.</p>
<p>Yeah, I really might have =( But I took into account the fact that my parents, who would rather have me stay in state, did not want to pay any deposit until I was sure I wanted to go. We also didn't want to get into any technical problems that may arise from paying the deposit (wasn't sure if it was actually binding or not at the time).</p>