<p>my stats are 28 ACT and 3.91 UW GPA, and ACT should be like 31-33 with the last ACT I took, but for now fixate on the 28. </p>
<p>I'm focused more on need-based aid, now do my stats really affect that at all? I'm coming from OOS and a poor family. I've heard of people getting full rides with $0 in loans when they suffer financial hardship, and my family made ~$30k last year, so might I qualify for this sort of thing? Immediate family has my parents, brother, myself, and my older brother who is in college, but has it paid for because of his military service, does that affect my FAFSA or EFC or whatever? I think my EFC will be close to 0, and if not, probably wont be over $2k.</p>
<p>Ultimately, I really want to go to UMich and I don't want money to be a limit to my school of choice, so is it possible that I can graduate with less than $20k in debt? If not, how much debt will I have realistically? Also, I'm not against loans and debts by any means, especially for something as important as a quality education, but can there come a point when you just can't pay for it regardless of loans?</p>
<p>Some will tell you U of Mich is not especially generous with OOS aid, and some will tell you that U of Mich gave them a ton of need-based aid and met full need even though they SAY they do not meet full need for OOS students. And both will be right.
In the end, you will not really know until your package comes in April, and you will have to make your best financial decision based on all the offers on the table.
You would be wise to make sure you have an in-state financial safety lined up just in case you do not receive as much aid as you expect. Michigan OOS tuition is almost as expensive as the Ivies/privates.</p>
<p>That said, hope for the best. The maximum in loans an undergrad is allowed to borrow I believe is $5500k subsidized and unsubsidized each year (maybe more in upper years, but not a lot more). Beyond that, Plus Loans are available for parents with generally reasonable terms and long payback options. Hope that helps.
Cheers,
K</p>
<p>yo lightja, my FA situation is quite the same as urs, and michigan is really generous to me because i got like 22k ish in grants. im OOS by the way. heres my way of handling this prob: i worked this semester(not alot,only made 1k), took about 7.5k in loans, and my parents are paying 10kish+some scholarship $2kish+summer job, i don’t think i’ll have alot by the time i graduate.</p>
<p>are ur parents going to contribute to ur education? if not its gona be tough. u gotta work extra hard during summer if u wanna pay off some loans.</p>