michigan scholar award

<p>so today i got this letter in the mail that says i got the university of michigan scholar award that gives me a $20,000 scholarship to use over 4 years, in which $2500 of that money is directly applied to my student account statement each term (so $5000 a year). has anyone else here on CC recieved this? i think it's kind of weird; i didn't apply for any scholarship or any aid for that matter (i wouldn't have recieved much aid because my dad is a very successful cardiologist) so i wasn't expecting anything like this. does this mean michigan really wants me or something? </p>

<p>this presents a dilemma because i have yet to hear back from other schools, and although michigan is a most excellent school and i would love to attend it, i still am undecided where i will be next year. so any advice would be greatly appreciated. i realize lots of opinions will be skewed since this is the michigan forum, but i love to hear what CCers have to say always. i have yet to hear back from:</p>

<p>cornell (i applied to industrial and labor relations school and i know our moderator went there for graduate work)
northwestern
yale (yeah right. i'll only get in with a clerical error)
dartmouth (see above)
university of virginia</p>

<p>all the schools above would give michigan a run for its money in terms of where i'd want to go. i'm not sure exactly what i'd like to do; business, political science, economics, industrial and labor relations (hence the cornell application), communications, sociology, etc are what i'm interested in. i realize that i won't get any money from these other schools and $20,000 a year is pretty beefy, and i still haven't heard back from the other schools, but i just wanted to see what you guys had to say and also if anyone else has received the michigan scholar award and what the deal is with that thing.</p>

<p>sorry for the long post and thanks.</p>

<p>$20,000 is not that much money when you look at the big picture. I mean, Michigan will still cost you like $140,000 to attend. Ok, so the other schools will cost you $180,000 to attend, but we aren't talking about night and day differences. Go for fit if you get into all the schools you apply to. Yale is obviously hard to turn down, but in terms of overall quality, the other 4 schools you are looking into (Cornell, Dartmouth, Northwestern and UVA) are about equal to Michigan. I personally picked Michigan over Cornell and Northwestern...and I would do so again if I had the choice. I don't like Dartmouth because it is way to remote and small for my taste, but if you like a close-knit community and the great outdoors, Dartmouth is unbeatable.</p>

<p>Merit scholarships have nothing to do with need--your family's ability to pay for college doesn't enter into the decision. Furthermore, I think many of Michigan's merit scholarships are awarded without a separate application--if you're admitted to the U, you are considered.</p>