I've been looking at the University of Michigan for engineering but the tuition is presenting me with quite a conundrum. Can anyone give me a ballpark figure of what an in-state student ends up paying annually? I'm seeking info on scholarships, work-study programs, and any other financial aid opportunities that could help alleviate the cost as well.
Going by the most recent statistics, the 2023-2024 estimated in-state tuition and fees for the University of Michigan stand at around $17,228 per year for first-years and sophomores. Do note, this is just the cost of tuition and does not include room and board or other miscellaneous expenses that might arise throughout the academic year. Including housing, dining, books, and transportation, you're looking at an estimated total cost of attendance to be around $30,000.
For financial aid, the aid awarded consists of a mix of scholarships, grants, work-study, and loans. The university does have a policy to meet 100% of demonstrated financial need for in-state students. That being said, the amount you would receive can vary significantly based on your individual financial situation.
When it comes to scholarships, the University of Michigan offers a range including merit-based and need-based ones. An example of a merit-based one is the HAIL (High Achieving Involved Leader) scholarship while an example of a need-based one is the Go Blue Guarantee, which promises free tuition to in-state students from families earning less than $75,000 dollars annually.
Work-study is usually offered as part of the federal financial aid package that you'll receive when you fill out the FAFSA (Free Application for Federal Student Aid).
Remember, you should also look into external scholarships from non-university sources to supplement your financial aid package. You can start researching these opportunities now and apply for what you qualify for.
Finally, when you receive your financial aid packages, you'll have a more concrete idea of the amount you'd have to contribute, which can be paid either out-of-pocket or through student loans. It's important to remember to compare the financial aid packages you receive from different schools before making a decision.
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