The University
Finance 101
Tuition Rates Past and Present
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Room and Board
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Payments
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General Accounting Information
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Financial Aid
Basic Expenses
Financial Aid
Each admitted student is considered a candidate for the majority of scholarships for which he or she qualifies. Selection is made by the Scholarship Committee from the admissions application or Office of Student Records and Registration data.
All students desiring need-based financial aid from the University must submit the Free Application for Federal Student Aid (FAFSA) to the federal processor with Michigan Technological University (code 002292) listed as a recipient of this analysis. All need-based aid is dependent on FAFSA results. Students must apply for admission by February 15 and complete the FAFSA by March in order to be eligible for aid for Fall semester.
Criteria for Financial Aid
Freshmen—Recipients of freshman awards are selected on the basis of high school class rank, high school cumulative grade point average, national test scores, special criteria established by sponsors of scholarships, and/or financial need. Financial aid decisions for incoming students are announced in March and April for Fall admission.
To enhance eligibility, applicants should take the American College Test (ACT), the College Entrance Examination Board SAT, or the PSAT/National Merit Scholarship Qualifying Test (PSAT/NMSQT) prior to January 1 of their senior year.
Transfer Students—Scholarships for transfer students are available primarily to current or former students of Michigan community colleges. Recipients of new transfer awards are selected on the basis of college academic record. Students must apply to Michigan Tech by February 15 preceding the academic year in which the applicant plans to enroll at the University.
Enrolled Students—Enrolled students who indicate their intention to return to Michigan Tech for the following academic year by registering for fall classes prior to the registration deadline are considered on a competitive basis for scholarships. Awards for enrolled, returning students are announced in early July.
[Top]Scholarships/Grants
Michigan Tech offers scholarships sponsored by the University, individuals, companies, and by local, state, and federal agencies. The following is a selected list; for a complete list of scholarships and more information on application procedures, visit www.finaid.mtu.edu.
Michigan Tech Leading Scholar Awards—Merit-based awards covering full-time tuition, room and board, and a $1000 per year stipend, to be used for any curriculum are given to Michigan residents who are members of the current year's graduating class from Michigan high schools. Candidates must be recommended for the award by a high school teacher by mid-October of senior year.
Presidential Scholars Program—Merit-based awards varying from $1,000 to $4,000 to be used for any baccalaureate curriculum are given to Michigan residents who are members of the current year's graduating class from Michigan high schools.
Michigan Community College Scholarships/David H. Morgan Memorial Community College Scholarships—These merit-based awards can be used for any degree curriculum. The amount of the award varies from $1,000 to complete full-time tuition.
Michigan Tech Merit Scholarships—These merit- and need-based awards, which can be used for any baccalaureate curriculum, are given to U.S. citizens who are members of the current year's high school graduating class, and who are National Merit Scholarship Qualifying Test finalists. Michigan Tech must be listed as the first-choice university with the National Merit Corporation. The value ranges from $1,000 to $2,000.
Diversity Incentive Awards—Merit-based awards to be used for any degree curriculum are given to U.S. citizens who are members of underrepresented groups as defined by the University Scholarship Committee. The value varies from $1,000 up to the value of full-time tuition plus fees.
International Ambassador Scholarships—Merit-based awards to be used for any degree curriculum are given to citizens or residents of any country except the United States. Accepted international students must obtain an application from the International Programs & Services Office. The value is variable from $1,000 to $6,000.
National Scholars Award—Merit-based awards are given to non-Michigan residents of the U.S. or residents of Canada. Awards to new first-year students are competitively awarded based on eligibility criteria as well as an index that considers the applicant’s high school academic record and available test scores (ACT or SAT). First-year student awards range from $6,000 to $12,000. Transfer students must have a minimum cumulative grade point average of 3.00 (4.00 scale), based on full-time enrollment for at least two semesters. Transfer students awardees receive $6,000.
University Student Award—This program is designed to provide financial assistance to incoming students and currently enrolled students at Michigan Tech, based on academic potential and financial need. The amount of each award is variable, depending on need, up to the amount of full tuition for Michigan residents and the difference between Michigan resident tuition and nonresident tuition for students paying nonresident rates. Recipients of this award must attend full time, reapply each year, and meet the required minimum 2.00 cumulative GPA.
Michigan Competitive Scholarships—These scholarships range in value from $100 to $1,300. Applicants must have (1) been continuous residents of Michigan for one year; (2) taken the American College Test (ACT) by October of their senior year of high school (or earlier) and attained a qualifying score; (3) not attended a postsecondary educational institution following high school and prior to the ACT; (4) complied with all regulations of the Michigan Higher Education Assistance Authority; and (5) demonstrated financial need through a need-analysis form (such as the FAFSA). Students must meet the satisfactory progress requirements of this program.
ROTC Scholarships—These include scholarships for both U.S. Air Force and Army programs.
- The US Air Force offers 2 to 5 year scholarships for students who qualify for an Air Force commission. Scholarships range from $3,000 per year up to full tuition and lab fees. Scholarship students also receive $750 per year for books. A $250 to $400 per month tax-free allowance is provided to all contracted cadets. High school students must apply for the scholarship by December 1 of their senior year. Interested college students may apply at any time. Interested college students may apply at any time. Students should contact the Air Force ROTC Department at (906) 487-2652 or visit their website at www.aux.mtu.edu/afcadets/.
- The Army ROTC offers scholarships which pay full tuition, fees and $900 in books per year. Scholarships are offered to 1st through 3rd year students who may need five years to complete their degree requirements. Once contracted, cadets will additionally receive a $300-$500 tax-free monthly stipend. High school students may apply for a four-year Army ROTC scholarship before December 31 of their senior year of high school. Contact the Army ROTC Department at (906) 487-2650 or visit their website at www.aux.mtu.edu/armyrotc/. [Top]
Other Aid Programs
To be considered for these programs, students must submit the Free Application for Federal Student Aid (FAFSA).
Federal Pell Grants—This federal government program assists undergraduates. The amount of the grant depends on the cost of attendance, expected family contribution, enrollment status, and period of enrollment. Award values can change yearly. The current maximum is $4,310. A Pell Grant does not have to be repaid.
Federal Academic Competitiveness Grants—These grants are to full-time Pell recipients who are U.S. citizens and who have completed a rigorous secondary school program of study, graduated after January 1, 2005, and enrolled in an eligible program. The award for the first academic year of study is variable up to $750. To qualify for a second-year award, students must meet all previously defined conditions and have earned a 3.0 cumulative GPA at the end of their first academic year. The award is variable up to $1,300.
Federal Supplemental Educational Opportunity Grants (FSEOG)—These federal grants assist Pell Grant recipients with exceptional financial need. The award varies depending on the amount of funds available.
National Science and Mathematics Access to Retain Talent Grants (National SMART Grants)—This federal program supports full-time Pell Grant recipients who are U.S. citizens enrolled in their third or fourth academic year of an eligible program and who are pursuing an eligible major with at least a 3.0 cumulative GPA. The award value can range up to $4,000 for each of the third and fourth academic years.
Michigan Educational Opportunity Grants (MEOG)—These grants provide aid to Michigan residents with exceptional financial need who are enrolled at least half time. The award is variable up to $1,000 a year.
Michigan Adult Part-Time Grants—Michigan residents with financial need who have graduated from high school at least two years prior to applying and will attend the University part-time (3–11 credit hours) can be eligible for this aid program which awards $600 per year.
TECHAID Student Loans—The University has need-based loan funds available to qualified students who are enrolled at least half-time. Loans will be determined on the basis of need.
Federal Perkins Loans—These need-based loans are provided by federal and University funds. Undergraduate students may borrow up to a cumulative maximum of $20,000. Interest does not accumulate until repayment period begins after graduation. Deferment of repayment is permitted for certain kinds of federal and volunteer service.
Stafford Loans—Students may be eligible for a subsidized or unsubsidized student loan from the William D. Ford Federal Direct Loan Program. The subsidized loan is based on financial need. The unsubsidized loan is not need based.
PLUS Loans—These federal loans are available to parents to help pay the educational costs of their dependent students enrolled at least half time.
Work-Study Programs: Federal and Michigan—These programs, based on financial need, provide assistance through employment on campus. Every effort is made to place students in jobs related to their skills, interests, and field of study. Work-Study participants generally are employed between eight and ten hours per week and receive biweekly paychecks.
Veteran's Administration Education Benefits—Various programs are available for veterans, reservists, and their dependents. Information and applications can be obtained from state veteran's affairs offices or the coordinator for veteran's affairs at Michigan Tech.
National Guard Programs—Information about these programs can be obtained from state education offices.
Vocational Rehabilitation Educational Benefits—Financial assistance is available on a need basis to students with physical or mental disabilities resulting in an impediment to employment. Information can be obtained from state rehabilitation offices.
Bureau of Indian Affairs Program—Financial assistance based on financial need is available to students who are qualified Native Americans. Students should contact their tribal education office for application procedures.
[Top]Keeping Your Aid
Required Credits for Assistance—Students must be enrolled each semester in the number of credit hours listed below to receive the full value of their awards.
| Scholarships | 12 |
| Federal Perkins Loan or Tech Aid | 6 |
| Federal SEOG | 6 |
| Federal Pell Grant | |
| Full grant | 12 |
| Three-quarter-time grant | 9-11 |
| Half-time grant | 6-8 |
| Less than half-time grant | 1-5 |
| University Student Award | 12 |
| Michigan Competitive Scholarship* | 12 |
| * Students carrying 6-11 credits may receive a reduced MCS award. | |
Satisfactory Progress Policy—Federal financial aid regulations require that a student must make satisfactory progress to remain eligible for financial aid. Financial aid programs affected by this policy are Federal Pell Grant, Federal Perkins Loan, Federal and Michigan Work-Study, Federal and Michigan Educational Opportunity Grants, Federal Direct Subsidized Loans, Michigan Competitive Scholarships, Federal Direct Unsubsidized Loans, Michigan Tuition Incentive Program (TIP), Federal Direct PLUS Loans, Michigan Adult Part-Time Grants.
At Michigan Tech, in order to maintain consistency, a minimum requirement for financial aid has been established. However, there may be some types of aid (e.g., scholarships) with more stringent requirements: See Appendix B for details.
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