State departments handling Financial Aid Programs:
The State of Michigan allocates the student financial aid annually in its budget and it is mainly handled by the Student Scholarships and Grants program. Michigan prioritizes fund allocations and in the financial year 2013, it allocated just over $98 million to its various scholarship and grant programs. In the financial year 2014, it went up to a little over $101.5 million and it is expected to be around $103 million or more in 2015. Since 1964, the State of Michigan has been awarding such scholarships and grants, to a total sum, exceeding $5 billion. More than 4 million Michigan students have been benefited by the State's Student Scholarship and Grants program.
Necessary Qualification:
There are certain criteria which an individual must satisfy to be eligible for the program. The individual must have a United States of America citizenship or a permanent resident status. Approved refugee status is also acceptable. They must have been a resident of the State of Michigan for at least a year prior to enrollment. The student must also have at least a half time enrollment in any approved college or university in Michigan, and also must not be a defaulter on any federal student loan. Other than these specifications, the student must also produce his/her high school diploma, certificate of completion or GED. The student must also meet the institution's Satisfactory Academic Progress (SAP) standards.
Student Financial Aid Programs:
The actual financial aid programs that are available for those students who satisfy the above criteria are as follows. The Children of Veterans Tuition Grant (CVTG) is available for the natural or adopted children of a veteran from Michigan, who may be disabled, deceased or missing in service. It requires that the student be between 16 and 26 years of age, and must maintain a CGPA of at least 2.25 for continued grant. This awards the student, a sum of $2,800 per year to a maximum of 4 years. The Michigan Competitive Scholarship (MCS) requires the student to have a qualifying ACT score (23 composite or 90 scaled), along with maintaining a CGPA of at least 2.0. It also has various other specifications, and is need based, awarding a sum of $630 per year up to 10 semesters or 15 terms. The Michigan Tuition Grant (MTG) is awarded to every need based student, and grants an amount of $1524, every year, until 10 semesters or 15 terms. The Police Officer's and Fire Fighter's Survivor Tuition Grant (STG) is for the children and spouses of policemen or fire fighters reported deceased in action. It requires the children to be below 21 and spouses to be below 26 to be eligible, and also requires the annual income to be below 400% of the federal poverty line. It covers the tuition fee and is limited to 9 semesters or 13 terms. The Tuition Incentive Program (TIP) is applicable to students who have received Medicaid coverage for at least 24 months in a 36 month period between ages of 9 and school graduation. It must be claimed within 4 years and is applicable to up to 10 years from high school graduation. It pays $250 per semester or term up to 24 semester or 36 term credits. Other than these, the Merit Award, GEAR UP Michigan, GEAR UP College Day and Dual Enrollment are other benefits.
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Article Source: http://EzineArticles.com/8591304
The State of Michigan allocates the student financial aid annually in its budget and it is mainly handled by the Student Scholarships and Grants program. Michigan prioritizes fund allocations and in the financial year 2013, it allocated just over $98 million to its various scholarship and grant programs. In the financial year 2014, it went up to a little over $101.5 million and it is expected to be around $103 million or more in 2015. Since 1964, the State of Michigan has been awarding such scholarships and grants, to a total sum, exceeding $5 billion. More than 4 million Michigan students have been benefited by the State's Student Scholarship and Grants program.
Necessary Qualification:
There are certain criteria which an individual must satisfy to be eligible for the program. The individual must have a United States of America citizenship or a permanent resident status. Approved refugee status is also acceptable. They must have been a resident of the State of Michigan for at least a year prior to enrollment. The student must also have at least a half time enrollment in any approved college or university in Michigan, and also must not be a defaulter on any federal student loan. Other than these specifications, the student must also produce his/her high school diploma, certificate of completion or GED. The student must also meet the institution's Satisfactory Academic Progress (SAP) standards.
Student Financial Aid Programs:
The actual financial aid programs that are available for those students who satisfy the above criteria are as follows. The Children of Veterans Tuition Grant (CVTG) is available for the natural or adopted children of a veteran from Michigan, who may be disabled, deceased or missing in service. It requires that the student be between 16 and 26 years of age, and must maintain a CGPA of at least 2.25 for continued grant. This awards the student, a sum of $2,800 per year to a maximum of 4 years. The Michigan Competitive Scholarship (MCS) requires the student to have a qualifying ACT score (23 composite or 90 scaled), along with maintaining a CGPA of at least 2.0. It also has various other specifications, and is need based, awarding a sum of $630 per year up to 10 semesters or 15 terms. The Michigan Tuition Grant (MTG) is awarded to every need based student, and grants an amount of $1524, every year, until 10 semesters or 15 terms. The Police Officer's and Fire Fighter's Survivor Tuition Grant (STG) is for the children and spouses of policemen or fire fighters reported deceased in action. It requires the children to be below 21 and spouses to be below 26 to be eligible, and also requires the annual income to be below 400% of the federal poverty line. It covers the tuition fee and is limited to 9 semesters or 13 terms. The Tuition Incentive Program (TIP) is applicable to students who have received Medicaid coverage for at least 24 months in a 36 month period between ages of 9 and school graduation. It must be claimed within 4 years and is applicable to up to 10 years from high school graduation. It pays $250 per semester or term up to 24 semester or 36 term credits. Other than these, the Merit Award, GEAR UP Michigan, GEAR UP College Day and Dual Enrollment are other benefits.
Article Source: http://EzineArticles.com/?expert=Vikram_Kumar_Khatri
Article Source: http://EzineArticles.com/8591304
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