Kdog044

Maybe if you have $0 EFC U-M might give good need but not for anyone in the $4-6K EFC. Also, they meet need with loans playing a big part and not necessarily at 100%. I can speak from experience as my D is a graduating senior. Her first year with a 6K EFC left a $11K gap even with her maxed out Stafford and Perkins loans. As our EFC went down it did get better but she still had to max her loans each year.

romanigypsyeyes

^ Remember they use PROFILE so it's not JUST the FAFSA EFC. I don't really know what to tell you, they meet full demonstrated need (I don't know whether or not with loans) as THEY determine it.

Kdog044

CSS Profile is irrelevant for us as we have no assets that would raise our EFC (unless you count a HUGE mortgage).

Kdog044

Listen, I love U-M and am a true "Blue" fan but they are not the most generous with financial aid. My son also applied there last year and received a better award from NU (based on COA percentage in scholarships/grants and NOT award amount). This is a private institution that offers no "merit aid" and costs twice what U-M costs. On a strictly cost basis it would have only cost him $2K more to attend NU.

romanigypsyeyes

I don't love U of M, but I have never heard someone complain about their FA package unless they're from a very wealthy family that doesn't want to spend the money to send them to U of M. U of M is known to be very generous.

I hope the OP comes back and tells us why he likes WSU so much and whether or not he'd be interested in going to a school that meets need with FA rather than merit.

Kdog044

Then I'm afraid you don't know a lot of U-M students in the lowish income ranges (i.e. $40-60K). Having a D that attends and a S who received a fin aid package (including merit scholarship) I am speaking for a fact. At anything more than $0 EFC I would be surprised if U-M would be more affordable than WSU, especially considering the COA is at least 25% more to begin with.

romanigypsyeyes

I'm sorry, but you don't know that.

Kdog044

Take a look at the average debt from 2011. U-M is over $7K more than WSU.

Project on Student Debt: Michigan

romanigypsyeyes

^ That means NOTHING unless you break it down instate/out-of-state.

Kdog044

romanigypsyeyes, do you or does anyone in your family attend? If not, then don't discount what I have concrete proof of. I think it's a great school and there are many reasons one would want to attend but it's a misconception that they are "generous" when it comes to financial aid. They are not the worst, but far from the best, at least in the income ranges I specified. If a school touts that they meet 100% of financial need it's a useless fact unless they specify "no loans". Any school can meet need with loans and work study.

romanigypsyeyes

Yes .

Kdog044

I don't need to break it down, I have 4 years if financial aid notices as my proof. I am telling you that you can expect to pay two to three times your EFC in the income bracket I mentioned. I would imagine it would only get worse the higher your income.

Kdog044

If you know someone that attends, give me their EFC and what percentage of COA they pay. In other words, calculate the total of just scholarships and grants and tell me what percentage of COA that equates to. Or calculate what their expected debt is. I can tell between my D and I (student and PLUS loans) the debt will be about $36-40K. That's for IS with <$6K EFC.

mom2collegekids

If a school touts that they meet 100% of financial need it's a useless fact unless they specify "no loans". Any school can meet need with loans and work study.

Oh...were you thinking that "meets need" means "no loans"? No, it doesn't.

However, I agree that "meeting need" should never include Plus loans that are for gap (I don't mean for EFC).

It sounds like your D was given expected fed student loans towards need...that is normal and not misleading.

However, if you had to use Plus loans to cover "gap" between need and COA then UMich is not doing what it says it does...and that's meeting need for instate.


You say that the debt will be about $30k-40k...that sounds about right....about $27k would be Stafford, maybe a few more thousand for Perkins...and then some Plus. But was the Plus for EFC or was it for gap?

cptofthehouse

I don't think it is easy to get a full ride anywhere. Perhaps the OP knows some people who got a full ride at Wayne State and therefore it is a familiar scene to him. I hear about kids getting huge grants to Fordham all of the time in my area, but I would not characterize it a school that gives out a lot of easy to get large grants. I also know very qualified students denied admissions there. Examining only one part of the elephant can be very deceptive as to how the beast looks.

As for UMich, it is a great school and perhaps it does "try" to meet all need, but it is not an all need met school like a number of them that do fall into that category.