Applying for Aid
The financial aid process begins with filing an Michigan Tech Application for Admission. Students seeking optimum financial aid opportunities should apply for admission as soon as possible after September 1 preceding the academic year in which they plan to enroll.
Merit-based aid does not require a separate application for the majority of University Scholarships. Exceptions are the Michigan Tech Leading Scholar Award and career interest scholarships. Applicants who are accepted for admission prior to February 15 for the following academic year are automatically considered for merit-based scholarships. Scholarship awards are based on eligibility criteria as well as an index that considers the applicant's high school academic record and available test scores (ACT, PSAT/NMSQT, SAT).
For all other financial aid (need-based scholarships, grants, loans, and work-study employment), applicants must also complete an Application for Federal Student Aid .
Most financial assistance is awarded for one academic year only. Renewal is dependent on continued academic and financial eligibility as well as availability of funds. Meeting the Satisfactory Progress Policy is required for renewal of financial aid. Renewal forms and procedures can be obtained from the Financial Aid Office.
Disbursement of Financial Aid
Awards from Federal, State and Institutional Funds (except employment programs) will be applied as a credit to the billing statement. Awards are ordinarily made on the basis of one half of the award becoming available for registration for each semester, fall and spring.
The Michigan Tech Accounts Receivables Office prepares an on-line billing statement each semester. You must pay the difference between the financial aid award(s) and the total amount due. If the awards exceed charges for the semester, Direct Loan proceeds will be refunded to you during the first week of the semester. Other programs will be refunded during the third week. You may need to bring cash (or a credit card) to purchase books and supplies. Students with a credit on their semester account may use the credit to charge books and supplies at the campus store.
Specific department work-study assignments are made by the Financial Aid Office. Every effort is made to place students in jobs related to their skills, interests and field of study. Students awarded work-study must visit the Financial Aid Office, Room 160, Administration Building during the first week of instruction to pick up their work-study assignment form.
Students normally work eight per week. When not enrolled in school during the summer, students may work a maximum of 40 hours per week. Money awarded for work-study does not appear as a credit on the semester bill. Students will be paid bi-weekly after beginning work. The hourly rate paid is equivalent to at least minimum wage.
Undergraduate Enrollment Status
Financial Aid Award Notifications are based on an expected full time enrollment for award and cost of attendance determinations. Unless the Financial Aid Office is notified in advance, Billing Statements will reflect full time award values.
Once the semester begins, the Financial Aid Office must confirm that applicants remain eligible for each type of aid awarded based on their established enrollment status. The enrollment status used by the Financial Aid Office is established as of the official “last day to add”.
If the applicant's enrollment status is not full time, the cost of attendance will be prorated. A reduction in the cost of attendance can impact the overall financial aid package. Individual awards will be evaluated based on funding enrollment requirements. Potentially, awards may have to be reduced or eliminated.
| Financial Aid Credit Requirements* | ||
| (per semester) | ||
| Enrollment | Undergraduate | Graduate |
| Full Time | 12 or more | 9 or more |
| Three-Quarter Time | 9, 10, 11 | |
| Half Time | 6, 7, 8 | 5, 6, 7, 8 |
| Less Than Half Time** | .5 to 5.5 | |
*Courses you are not billed for, audits, and Learning Center credits are excluded from the total credits used to calculate financial aid enrollment status. **For financial aid eligibility, a coop assignment is considered less than half time. |
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The tuition component of the Cost of Attendance is based on average credits.
The list that follows indicates the minimum number of credits required to be considered for a specific type of assistance. Though a student may be enrolled for the minimum required credits for an award, an adjustment to the cost of attendance for a less than full time enrollment may still affect the award amount.
| Minimum Credits for Specific Assistance Types | |||||||||
| Scholarships and University Award | 12 | ||||||||
| Loans: Federal Direct Loans, Federal Perkins, or Tech Aid | 6 | ||||||||
| Work-Study: Federal or State of Michigan | 6 | ||||||||
| Grants: Federal or Michigan Educational Opportunity Grants | 6 | ||||||||
| Federal Pell Grant: | |||||||||
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| Michigan Competitive Scholarship: *MCS will be reduced for 6 through 11 credits |
12* | ||||||||
| Michigan Promise Scholarship | 1 | ||||||||
| Michigan Alumni Award | 1 | ||||||||
To minimize the impact which packaging adjustments can have on your available financial assistance, we recommend that you notify the Financial Aid Office of less than full time enrollment now or in advance of the “last day to add” date. Though you may receive special permission to increase your credit load after that date, financial aid must be based on the “last day to add”. There are no exceptions.
If you will be attending on a part-time basis, complete and submit the annual Less Than Full Time/Full Academic Year Enrollment Form mailed with your award letter or download the form.
Awards
Awards are based on expected funds and are therefore subject to change. State and federal funding is necessarily tentative at the time awards are made and Michigan Tech cannot guarantee substitue awards if any anticipated outside sources of assistance do not materialize.
Errors
Michigan Technological University must follow federal, state and institutional regulations in awarding aid. Therefore, if an award error is discovered, it will be corrected.
False Information
If false information is submitted for the purpose of receiving financial aid, the aid will be cancelled, the student will be responsibe for repayment of aid received, and the matter will be referred to the appropriate judicial agencies.
Refunds for Complete Withdrawal
All refunds will be made first to the program(s) providing you with assistance according to the refund policy of the University or Agency. Refer to the Undergraduate Catalog for additional information regarding the University's Refund Policy.
Change in Eligibility
Your award is subject to change if you receive other awards which cause the total amount of all aid to exceed the financial need figure on your award notification, or if there is an adjustment in the Expected Family Contribution (EFC). Your award may be re-evaluated if you have an extreme change in financial circumstances. All requests for re-evaluation must be submitted in writing.
Responsibilities
As an aid applicant, you must notify the Financial Aid Office of financial assistance you expect to receive from outside sources. If you are not able to attend Michigan Tech, please notify the Financial Aid Office to cancel your aid. If you receive a Federal Pell Grant, National SMART Grant, or Federal Academic Competitiveness Grant for the same academic year at another institution prior to enrolling at Michigan Technological University, you must notify the Financial Aid Office.
