Financial aid michigan

Michigan State is operating through; Michigan Student Financial Aid Association (MSFAA) which is a combination of different group of financial aid professionals consists of Michigan colleges and universities, banking institutions, guaranty agencies, and the State of Michigan. This association guides the students by giving valuable guidance to students, parents, counselors, and financial aid professionals. The Michigan Guaranty Agency (MGA) is one more association established to make low-interest, long-term educational loans available to students attending participating postsecondary institutions, and their parents. These financial aid loans are designed to improve educational opportunities and the successful chances of program participants.


The various Financial Aid Programmers offered by the state of Michigan are:


1. Adult Part-Time Grant


The Adult Part-Time Grant is mainly designed for the financially needy, independent undergraduates for at least two years. This program allows the applicant to eligible up to $600 per year by enrolling a degree in any of the Michigan College or university.


2. Children of Veterans Tuition Grant


The Children of Veterans Tuition Grant assists the children of qualified veterans as per the Michigan residency requirement up to $2,800 per academic year.


3. Electronic Payment Savings (EPS)


Electronic Payment Savings (EPS) offers borrowers with an option for automated loan payments and an interest rate reduction of 1/4 of 1% (0.25) on all Federal Family Education Loan (FFEL) Program loans and MI-LOAN Program alternative student loans.


4. Michigan Competitive Scholarship


The Michigan Competitive Scholarship program is sponsored by the state of Michigan based on the financial need and merit of the student. But these limited to the cost of tuition and fees.


5. Michigan Education Savings Program


Michigan Education Savings Program offers with saving for future education costs including saved funds, investments, low minimum contributions, and Michigan matching grant etc.


6. Michigan Education Trust


The MET program is mainly intended to provide Financial Assistance to the students and their families in paying their under graduation tuition fees.


7. Michigan Educational Opportunity Grant


The Michigan Educational Opportunity Grant (MEOG) is offered to the students of financially needy, undergraduate students registered for postsecondary institutions of Michigan state university.


8. Michigan Merit Award


The MMA was designed based on the results of academic assessment tests. Students may eligible to get up to $3,000 for postsecondary educational purposes.


9. Michigan Nursing Scholarship


The Michigan Nursing Scholarship is a non-need based financial aid program to the enrolled Michigan students of a Licensed Practical Nurse (LPN) certification, Associate Degree in Nursing (ADN), Bachelor of Science in Nursing (BSN), or Masters of Science in Nursing (MSN).


10. Michigan Promise Scholarship


The Michigan Promise scholarship assists up to $4,000 for high school graduates after the completion of two years under graduation degree.


11. Michigan Tuition Grant


The Michigan Tuition Grant (MTG) is established to assist the students of Michigan secondary institutions.


12. Michigan Work-Study Graduate Program


The Michigan Work-Study Graduate program provides work opportunities to help needy graduate students pay educational expenses.


13. Michigan Work-Study Undergraduate Program


The Michigan Work-Study Undergraduate program grants work opportunities to the needy undergraduate students in paying their educational costs.


14. The Federal Family Education Loan Program (FFELP)


FFELP assists the students with the Federal Stafford, Federal PLUS, and Consolidation loan programs.


15. Tuition Incentive Program


Tuition Incentive Program established to pay the education costs of first two years of college.


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