christena629

Seeing as the financial aid packages came out yesterday, I was wondering what a reasonable price for UM is. By net price I mean: (tuition, room and board, books)- (scholarships, grants, work study).

This excludes loans.

My net price came out to $12,000. Is that a lot compared to others?

midwestdad55

I think so. Of course, it depends on parents. Loans are tricky. Rates are pretty high. 6.8% or something. Also, the way Congress and state govts are about supporting education, I would disappearance of some grants in the future. You will several grants ending in 2012.

It is a good school!

CPUscientist3000

You should only include prices that will show up on your tuition bill, so don't include books. And don't include work study, because that is your pocket money to use for day to day expenses.

If you include the 5500 federal koans for yourself, can your family come up with 6500?


Redo your net price and use tuition, room/board, and fees - grants and scholarships.

christena629

If I take out work study then it goes up to $15000.
I plan to use work study to pay for room and board not personal expenses.

CPUscientist3000

work study is doled out on a weekly or biweekly basis, you wont get the total amount or even 1/2 of it by the time bills are due...

work study isn't given to students for use on tuition bills. what will you use for everyday living expenses? there are a lot, although it doesn't seem like it because we are under our parents' care. if you have money saved for personal expenses, use that for room/board and use work study for personal expenses.

just my 2 cents, you don't have to listen.

christena629

I understand what ur saying. For the first semester I plan to take out a loan equal to half of my work study. Then I will pay for second semester with what I earned from first semester working.