I was wondering if anyone has any idea what UofM does for their financial package if your family income is low but assets are pretty good. Like should I expect any aid from them or am I pretty much going to have to pay most of it.
It depends on the amount of assets - if over $75K.
We consider total net worth, which includes: ​home equity, savings/checking, investments, real estate and business net worth, but not retirement accounts.
Many people today have significant home equity, as an example.
No one can answer you - but UM will tell you soon enough.
Their formula is unknown.
Are you instate? I don’t think UM gives any institutional need based aid to OOS students.
Did you run the NPC? AFAIK that is fairly accurate:
From other thread and if it’s the same poster, the income is under $75K but not the assets and both are required for Go Blue. Assets are the tricky part and for many with home equity, it will put them at a love where schools will expect them to spend - but given we wouldn’t know the amount, etc. - ultimately OP will hear from the school.
Accepted LSA in state
Gpa - 4.0
Sat - 1540 superscore
Thx. The NPC should work then, and show they won’t qualify for Go Blue and will show what aid they will likely qualify for.
Mich does meet full need for in-state residents.
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Is the CSS completed? If so u can make an appt with financial aid. We did it during accepted students day . The very nice gentleman sat down and explained to us all the details of what we could and couldn’t be eligible for in terms of our financial situation. It was definitely helpful. We were oos
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