Financial Aid

Financial Aid2018-07-24T11:43:59+00:00

State of Michigan Programs

Michigan Tuition Grant

This scholarship is available to any student who is enrolled at least half-time and meets the Michigan residency requirement. Grants range from $1,200.00 to $2,400.00 per year, based on financial need and enrollment status.

Federal Aid Programs

Pell Grant

Any undergraduate degree student who does not already possess a bachelors degree may apply for a Pell Grant by submitting a FAFSA. These grants range from $652.00 to $6,095.00 a year, based on financial need and enrollment status.

Supplemental Educational Opportunity Grant (SEOG)

SEOG grants range from $100 to $4000, and are given on the basis of exceptional financial need.

 Federal Direct Student Loan

This is a federal low-interest loan available to students. A student may borrow up to $5,500.00 the first year, $6,500.00 the second, and $7,500.00 thereafter. Depending upon financial need, the interest from a portion of these loans may be subsidized by the federal government (see chart below). Loans originated after July 1, 2018 carry an annual interest rate of 5.045%.

Dependent Students (except students whose parents are unable to obtain       PLUS Loans)Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans)
First-Year Undergraduate Annual Loan Limit$5,500    [No more than $3,500 of this amount may be in subsidized loans.]$9,500     [No more than $3,500 of this amount may be in subsidized loans.]
Second Year Undergraduate Annual Loan Limit$6,500     [No more than $4,500 of this amount may be in subsidized loans.]$10,500     [No more than $4,500 of this amount may be in subsidized loans.]
Third-Year and Beyond Undergraduate Annual Loan Limit$7,500     [No more than $5,500 of this amount may be in subsidized loans.]$12,500     [No more than $5,500 of this amount may be in subsidized loans.]
Subsidized and Unsubsidized Aggregate Loan Limit$31,000      [No more than $23,000 of this amount may be in subsidized loans.]$57,000      [No more than $23,000 of this amount may be in subsidized loans.]

Federal Direct Student Loan Permission to Borrow – Complete this form as a part of the student loan process.

PLUS Loans

Available for parents.

Application for all of these programs is made by filing a Free Application for Federal Student Aid (FAFSA)