<p>I was completely elated when I received my admission decision from UM (accepted-- 12/15, in state). I am completely positive it's where I want to be next year. Money is the only obstacle. Several other schools have already offered me money based on merit (Mich State has offered $2000 per year). If I become a finalist in the National Merit Program, I have several offers for a free ride. Still no word on merit money from U Mich, and from what I understand I shouldn't expect it (right?). My parents are divorced, which would be good for me if U Mich only required the FAFSA, but since they require CSS as well, I understand that both parents' assets will be considered (each of my parents makes roughly 50K per year). My mother (custodial parent) has said that she won't be able to help me out at all financially because she's building a house that's zapping all of her money, but I suppose they don't care about that. Going to U of M is my dream, and I see it dissolving before my eyes.
what can I expect as a result of the FAFSA?
any suggestions would be greatly appreciated.</p>
<p>I'm no financial adviser, but I think that the house can be considered a financial liability, and therefore get you some need-based money.</p>
<p>I would not expect much on the merit side of things from Umich just because of how most of their scholarships are distributed. However, you might get some stuff.</p>
<p>Maybe call the office of financial aid?</p>
<p>With both parents making a combined $100K, you probably won't get much financial aid... unless they have other kids in college and/or have very low assets. However, I'm no financial aid expert either. There is an on-line EFC (expected family need calculator)... <a href="http://apps.collegeboard.com/fincalc/efc_welcome.jsp%5B/url%5D">http://apps.collegeboard.com/fincalc/efc_welcome.jsp</a></p>
<p>if u are instate at U Mich the tuition fee wont be too high. Anhydrosis has a gerat point in since both your parents make 100 k you wont get any financial aid (if you do itll be very little since 80k is roughly teh cut off.) If you are planning on going to grad school, i would say take the school that gives you a full ride so you can go in debt on grad school. If you arent planning on grad school, just take out student loans. low interest plans + they limit how much mone yin taxes ull have to pay. On top o fthe fact, just get a part time job on campus that will help absorb some of the costs.</p>
<p>thanks for the info, everyone. not encouraging, but good to know...</p>
<p>U-M won't use the FAFSA to determine your aid package. Now that they use PROFILE they can let you know a lot sooner--go ahead and get that filled out.</p>