University of Michigan - Flint

Most student financial aid authorized by the Financial Aid Office is based upon need. For more information on the determination of need please see the cost of attendance web site.  Depending on how much need a student has they may be eligible for any of the following types of financial aid.  With each type of aid there are certain eligibility requirements and terms that must be met.  For more specific information on each possible award please review the Required Reading document.

• Academic Competitiveness Grant  (ACG)
  This is a new grant program that began in the 2006–07 award year for full-time undergraduate students enrolled in an eligible program, who receive Federal Pell Grants and are U.S. citizens. Students also must have completed a rigorous secondary school program of study and be enrolled in at least a two-year academic program acceptable for full credit toward a bachelor’s degree or enrolled in a graduate degree program that includes three academic years of undergraduate education.

• Federal Pell Grant (PELL)
  All undergraduate students applying for aid are required to apply for this federal grant. The amount of Federal Pell Grant funds that a student receives is based on the number of credit hours the student enrolls for and his or her Expected Family Contribution as determined by the Federal Methodology needs analysis formula. 

• National SMART Grant
  This is a grant program for full-time undergraduate students who are enrolled in the third or fourth academic year of an eligible program, who receive Federal Pell Grants and are U.S. citizens. An eligible program in the National SMART Grant is one that leads to a bachelor’s degree in an eligible major or a graduate degree program in an eligible major that includes at least three academic years of undergraduate education. The award is up to $4,000 for each of the third and fourth academic years.

• Supplemental Educational Opportunity Grant (SEOG)
  A federal program that provides grants to undergraduate students with exceptional financial need. Pell grant recipients are given priority for these awards.

• Teacher Education Assistance for College and Higher Education (TEACH) Grant Program
  Provides grants of up to $4,000 per year to students who intend to teach in a high-need field in a public or private elementary or secondary school that serves students from low-income families. As a recipient of a TEACH Grant, you must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant.
  
  IMPORTANT: If you fail to complete this service obligation, all amounts of TEACH Grants that you received will be converted to a Federal Direct Unsubsidized Stafford Loan. You must then repay this loan to the U.S. Department of Education. You will be charged interest from the date the grant(s) was disbursed. 

• Tuition Incentive Program (TIP)
  Although entering freshmen at the University of Michigan-Flint are not eligible to use Phase I of their TIP eligibility, they can qualify to use Phase II at a later date. Phase II will pay tuition and mandatory fees not to exceed $500 per semester up to a maximum of $2,000 for credits earned in a four-year program. To receive Phase II benefits, the student must meet eligibility for Phase I and have either 56 transferable semester credits or an associate's degree.

• University Grant (UG)
  A university sponsored grant that provides funds to undergraduate students with financial need. Awards up to a maximum of $1700 per year may be made to Michigan residents who are at least half-time students.  The amount is pro-rated based on full or part-time enrollment.

• Michigan Competitive Scholarship (MCS)
  Awarded by the Michigan Department of Education. The scholarships are based on academic requirements and financial need. Students must initially qualify for the scholarship before enrolling as college freshmen. The scholarship is renewable for a maximum of ten semesters, with renewal based on continued need and satisfactory academic progress. High school students should consult their counselors for details, preferably early in the junior year.

To contact the State of Michigan about the Michigan Competitive Scholarship, please use the following:

Michigan Department of Treasury
Office of Scholarships and Grants
Bureau of Student Financial Assistance
P.O. Box 30462
Lansing, MI 48909-7962
1-888-4-GRANTS
email: treasscholgrant@Michigan.gov
or visit their web site

• U of M Flint Endowed/Gift Scholarships
  Please see the scholarship portion of our web site for more information.
  
  
  
  

• Federal Perkins Loan
  Long-term, low interest, federal loan. This loan is repayable over an extended period of time after graduation and carries no interest charge while the borrower is enrolled at least half-time. When the borrower graduated, disenrolls, or drops below half-time, a nine month grace period begins during which no payment of principal or interest is required.  At the end of the grace period repayment begins with a minimum monthly payment of $40 (payments may be higher depending on the total amount borrowed).  Prepayment or accelerated payments can be made with no penalty.  The current interest rate is 5%.

• Federal Direct Loan, Subsidized
  A need based, low interest loan for students. The amount that a student may borrow is based on his or her grade level and amount of financial need.

• Federal Direct Loan, Unsubsidized
  A non-need based loan for students. A student must apply for a subsidized Federal Direct Stafford/Ford Loan before requesting an unsubsidized loan. The combination of subsidized and unsubsidized loans borrowed may not exceed the student costs and the annual limits of the William D. Ford Federal Direct Loan Program. In addition to the subsidized loan maximums listed above, students considered to be Independent can apply for additional amounts through the unsubsidized program.

• Federal Direct PLUS Loan (for Parents) -- application
  A non-need based loan that is available to the parents of dependent students. The parent borrower must have a favorable credit history. Note: If a parent is denied a PLUS Loan due to an unfavorable credit decision from the Direct Loan Servicer, the Dependent student can access the higher amounts available to Independent students through the Unsubsidized Federal Direct Loan Program listed above.
  
  NEW - A parent may defer repayment of their Direct Plus Loan(s) while the student for whom you borrowed a Direct PLUS Loan is dependent and is enrolled at least half-time at an eligible school or is in a full-time rehabilitation training program. - Parents must call Direct Loans in order to request the deferment.

• Alternative Loans

• Federal College Work Study (FWS)

• Michigan Indian Tuition Waiver
  
  Public Act 505 of 1978: North American Indians who can prove one-quarter quantum Indian blood and who attend a state-supported post-secondary institution in Michigan shall have their tuition waived. A student must have been a legal resident of Michigan for at least 12 consecutive months. Students must notify the Financial Aid Office each semester of the number of credit hours they plan to take. Students must have on file a tribal certification letter indicating one-quarter or more Indian blood quantum. Additional information and service is available from:
  
  Inter-Tribal Council of Michigan
  MITWP
  405 East Easterday Avenue
  Sault Ste. Marie, Michigan 48783

• Bureau of Indian Affairs (BIA)
  Higher education scholarships based on need. Applicants must be accepted for enrollment in an accredited degree-granting institution of higher education and be either members of or eligible for membership in a recognized tribe. Applicants should contact the appropriate tribe, or for additional information contact:
  
  Michigan Agency, B.I.A.
  U.S. Dept. of Interior
  PO Box 884
  Sault Ste. Marie, Michigan 49783

• Emergency Loans (guidelines)
  
  Emergency Loans are available to enrolled students who have an unanticipated emergency arise during the academic year. Applications must be accompanied by adequate documentation of the circumstances and a clear means of repayment. Repayment is expected within 30-days. Continuing students must have a 2.0 cumulative GPA. Recipients must demonstrate financial need. Types of emergency situations for which these loans may be granted are housing evictions, utility shut-offs, transportation repairs, child care, and medical/dental emergencies. Approval of these loans is at the discretion of the Emergency Loan Committee.