Hi, my DD received an email from UM School of Nursing for her OOS merit aid. She received 50% of tuition for first year and 25% for the next 3 years as scholarship. She has ~19K from grant for the first year.
The email also says the following, can anyone please let us know what it means? Will the grants and scholarship together be added so that it comes to 50% of the tuition? Or can we use the grants on top of the 50% tuition scholarship?
“The actual scholarship amount provided each year by the School of Nursing takes into consideration scholarships and/or grants that you receive from other sources. The School of Nursing then provides a scholarship so that at minimum, you receive the tuition support detailed above” (50% for first year, 25% for the next 3 years)
I gather you mean University of Michigan. You will need to call and ask them.
It is possible that your need based aid was reduced by the merit award. You have to ask THEM if you will receive both the merit scholarship and need based aid in addition.
With the half tuition scholarship and the 19k need based aid, is the the tuition covered? Is the school affordable?
The question that you need to ask is:
If you receive 25% tuition (years, 2,3 and 4) and you income remains relatively stable, will you receive need based aid that will cover the balance of tuition at UM?
Thanks for the replies. Will call them today. @sybbie719, gap in tuition is about 5K and then room and board. Right now I have a kid in college but he graduates in 2 years. So this may change our FAFSA. So dont want to rely totally on the grants.
If your D takes the $5500 federal loan that can cover the tuition gap. If she gets a job now and works through the summer, she will have money for books and incidentals. Would covering the room and board be affordable to your family
When the reduce the tuition to 25% will your need based aid go up since you have a larger need. Run your numbers through the net price calculator with no scholarship then run it again with the 50% to see how close the NPC came to what you actually received. Run it a theirs time with the 25% scholarship with 2 in college to get an idea as to what it will look like next year. Run it a 4th time with the 25% scholarship and one in college to see what it will look like year 3 and 4. Don’t forget to add on ~ a 5% increase each year.
Remember if the 19k is need based aid you will have less of a need when kid 1 graduates. There will be an expectation of what you are paying for kid one be used for kid 2 once he grad graduates.
Today is a holiday :)] You can call them tomorrow morning