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The state government of Michigan is one of the more usually disregarded sources of grants and scholarships for students planning to attend college there. In fact, Michigan’s state government funds a number of initiatives aimed at assisting students in raising funds for tuition, one of which is the Michigan Comp Scholarship.
In order to give Michigan people greater access to higher education, the Michigan Comp Scholarship was created. Undergraduate students pursuing their first degree in a state-supported college or university are eligible for the award.
It can be difficult to determine your eligibility. The good news is that we have put together a guide to assist you in understanding all the eligibility conditions you need to be aware of if you want to apply for a Michigan Comp Scholarship. Without further ado, let us dive into it.
How to Get a Scholarship to Michigan State?
For higher education to be affordable, the majority of college students rely on financial help in some capacity. Many organizations, including governments and higher education institutions, offer loans, grants, and scholarships.
It is crucial to use all of the tools at your disposal to assist you pay for college when you put together your college financing package. If you have not looked into the specific scholarships the Michigan state government offers, you might be passing up on important financial aid opportunities.
The state of Michigan offers a wide range of general scholarships and grants to encourage and assist its resident students’ pursuit of higher education. These programs offer various levels of financial assistance and combine need- and merit-based grants.
To apply, fill out and submit the Free Application for Federal Student Aid (FAFSA). Additionally, monitor the government’s Student Financial Aid Website to stay informed as to the availability status of offered grants and scholarships.
What are the Michigan Comp Scholarship Requirements?
There are a few eligibility requirements to the Michigan Comp Scholarship that you need to meet. In a nutshell, to be considered eligible for the Competitive Scholarship, you must:
- Be an American national, lawful permanent resident, or recognized refugee
- Not be imprisoned
- Hold a high school diploma or an equivalent qualification
- Provide proof of your financial need
- Enroll in a Michigan public university or community college at least half-time
- Have lived in Michigan as of July 1 of the preceding year
- Obtain a qualifying SAT score of at least 1200 prior to enrolling in college
- Give MI Student Aid your Social Security number by the end of your senior year of high school
- Not have any federal student loans that are in default
Easy enough, right? In the next section, we will explain exactly what it means when it says you need to provide proof of your financial need.
What Does It Mean by “Demonstrated Financial Need”?
All that means is that your Expected Family Contribution (EFC) does not meet the Cost of Attendance (CoA).
EFC is the amount your family anticipated spending on the education. This comprises the number of family members attending school, the size of the family, the family’s assets, both taxable and untaxable income, etc.
On the other side, CoA is the cost of attending a particular institution. Tuition is not all that is involved. It covers things like transportation, lodging and board, books and supplies, and tuition and fees. The CoA varies depending on the school you are applying to.
The demonstrated financial necessity is created by subtracting the EFC from the CoA. According to the FAFSA, you would require this amount of money in addition to your EFC in order to enroll in a particular college or university.
The financial need equation has variables in each component. This implies that depending on the college and the year, your financial needs may vary greatly. You must fill out the FAFSA every year, regardless of the scholarships or grants you intend to apply for, for this reason.
Yes, the FAFSA is lengthy and has numerous questions, but it will be worthwhile in the end.
What are the Requirements After I Get My Scholarship?
After you have been awarded your Michigan Comp Scholarship, it is pretty easy to remain eligible for the scholarship. All you need to do is stay in school, maintain a minimum cumulative Grade Point Average (GPA) of 2.0, and meet your institution’s Satisfactory Academic Progress (SAP) policy.
The eligibility will terminate after you graduate with a bachelor’s degree, have been out of high school for more than ten years, or have completed the equivalent of ten semesters (or terms), whichever comes first.
You are not required to repay the scholarship. Unlike loans, you will have to pay them back plus interest once you have earned your degree. Meanwhile, you will not have to pay anything back if you receive this scholarship and finish the course of study for which it was intended.
If you leave school mid-semester, your college or institution can require you to pay back the scholarship. You might need to pay for the remaining sums out of your own pocket if you were given money to finish a semester but did not.
Before making any mid-semester enrollment changes, get in touch with your institution’s financial aid office and your scholarship provider as this is not a binding regulation.
How Much Money Can I Get from the Scholarship?
Awards are restricted to tuition and mandatory fees and pay up to a maximum of $1,500 for the academic year at your participating institutions. Other gift aid may reduce or cancel this award.
How Do I Apply for the Michigan Comp Scholarship?
To apply for this scholarship, all you need to do is fill out and submit a FAFSA. You can learn more about filing the application with our FAFSA guide. Deadlines for submitting your FAFSA are listed here.
To check the status of your application, you can log into the MiSSG Student Portal here. Feel free to contact MI Student Aid for any technical issues at 1-888-447-2687 or email@example.com.
If you are already looking at how to get a scholarship to University of Michigan, you might already know about the program. If not, you can read about everything you need to know in our in-depth Michigan Competitive Scholarship.
If you are struggling with the SAT, check out this guide to getting a high score on the SAT so you will be considered for the Michigan Comp Scholarship. For more information on other state-funded resources, check out our guide to Presidential Merit Scholarship Texas Tech here.