@brantly - Besides the UofM net price calculator, which does not figure Provost awards, do you have a formula (or web site) that you recommend if you’re trying to figure out if you get any Provost award in coming years with an increase in income? (Basically, let’s say your income goes up because you get a second job, how much does the Provost award go down?)
@emleo2 Apologies for the delay in replying. I haven’t been on here for awhile. Are you a HS senior trying to decide if Michigan will be affordable for you for all four years? If so, you should call the FA office and ask. Any income you earn via a work study job does not reduce your award in subsequent years. In addition, there’s an income protection allowance – IOW, an amount you are allowed to earn without it affecting your FA. Now, if you are talking about your parents’ income, that might work differently. But your best bet is to call the FA office.
Hi, Your posting is very helpful. Wondered whether $90K of income threshold for out-of-state family to receive provost award is the internal information being used or the guideline open to the students and parents at UMICH. Does number of family dependents impact the the threshold amount? For what period is the $90K of threshold amount effective?
As a divorced parent who pays alimony every year (shown on the return) to the ex and is fully responsible for son’s school expense, My annual income (net of alimony payment) is lees than $90K, wonder why my son is not granted Provost award and pell grant this year (partially because some of tax deduction amount on the return are incorrectly added back as additional income). For divorced parents, whose income is taken into consideration in determining financial aid? I was given different answers by different staff. Have a hard time to reach financial aid officer to solve the issues. Any tips will be helpful.
Thanks
Realdy
As divorced parents, each of you is required to submit a CSS Profile. The custodial parent (you) submits the FAFSA and the CSS Profile. The noncustodial parent just completes the CSS Profile. Financial aid is determined based on the income and assets of both parents. Here’s some information about how to complete the CSS Profile if you are divorced.
https://secure-media.collegeboard.org/misc/css-profile/completing-the-css-profile-for-the-noncustodial-household/completing-the-css-profile-for-the-noncustodial-household.html
Scroll down to paragraph 12. https://news.umich.edu/u-m-unveils-tuition-guarantee-for-michigan-students-with-need/
Household size always affects amount of financial aid. Michigan doesn’t say what household size the $90k threshold applies to, but in general, when income limits are stated, it usually means for a family of four. Financial aid is awarded yearly. You have to reapply every year. If your income and assets are about the same, you should receive about the same award. If your income/assets go up or down, the award will reflect that.
Do Michigan’s Net Price Calculator.
https://finaid.umich.edu/tag/npc/