<p>Hi, I am a current senior attending a high school in Illinois. I have a 3.99 UW GPA, top 6% of my class, and 31 ACT. I would love to go to Michigan but would only be able to go if I had less than 10K in loans each year and EVERYTHING else covered by grants or scholarships. My EFC will be zero. So, how much do you think I would have to get in loans each year to attend UMich? Please help! Thanks</p>
<p>Idk, but my sister is an OOS student and my parents pay 27k+ a year after grants/scholarships when our income is only 40,000. -_-</p>
<p>^ She’s an applicant or a student? How can they afford 27K with a 40K income??</p>
<p>shes a Senior at mich now. My parents can afford it b/c of other circumstances like assets and stuff… </p>
<p>but still.
27k with a 40k income…
plus i really want to go to mich. :(</p>
<p>Oh also to the OP, UMich uses the CSS profile, so they take into account your house(s) and assets and stuff, so it’s hard to predict how much they’ll give you because a low income isn’t the only determining factor.</p>
<p>Bump…anyone else?</p>
<p>Sent from my SCH-I500 using CC App</p>
<p>gbaby1, most likely you will only be able to take out the Federal Direct loans in your name which are currently around $5500 for freshman. Any other loans would likely require a co-signer or would need to be taken out by your parents in their name in the form of a PLUS loan. Michigan states that it does not “meet need” for out of state students or internationals.</p>
<p>So I’d probally be taking out 20k or more each year for loans? Is there any chance I would be able to go for like 12k in loans a year? If not I will probally not apply</p>
<p>Sent from my SCH-I500 using CC App</p>
<p>bump…any chance at all of getting much grants and scholarships?</p>
<p>hi gbab1, my son had a act 33 uw gpa 3.8 and did not get any scholarships from Michigan. Our EFC was 2900 and we are OSS… he got 6,000 in grant money, and the federal pell grant etc… but that was it… He is currently a freshmen there and loves it… but, in order for him to go… he has work study, standard loans, we pay and his grandparents pay to make it happen…</p>
<p>gbaby1,</p>
<p>DS is a freshman at UMich and is OOS. He is blessed to get a total aid (including federal loans, work study and grants) of about $45K. He was an early admit. Our AGI was $23K and EFC $0. But there is no guarantee that he will get similar aid all four years.</p>
<p>Gabby, truly no one here can give you any idea, except to say you will never know unless you apply. Which you might want to do promptly in order to be considered fully for merit money, which is hard to get.</p>
<p>My wife went to UM in late 1990’s as on OOS, and didn’t receive a dime in fin aid. Even then it was approx. $40k/year. Giant rip-off in my opinion…she was a biology major and could have gotten the same education at her state’s flagship university (penn state)…she claims it helped her get into med school, but I have my doubts.</p>
<p>Flashes, the case isn’t whether it’s worth the OOS price or not – it’s “worth” it compared with many of the privates in the same category. But “worth” it is relative to one’s financial situation. If a person can’t afford umich, a state flagship is obviously a better fiscal choice. However, if a person WANTS to attend umich but can’t afford it, one needs to at least apply to find out whether or not the package will make it possible, since financial aid at a state-sponsored public is such an unpredictable phenom.
In your wife’s case, we’ll never know whether attending umich undergrad gave her the edge in med school or not, but you’d have a much better case about it not having been worth it had she NOT gotten into med school 
It’s kind of like rationalizing the purchase of a Volvo or a land rover because in a collision with a truck it will save your life…great if you’re ever in a collision with a heavy truck but the fiesta will do you fine if you just need to eat to stay alive ;)</p>