Michigan Need Aid Forum

[shaville]

Has anyone heard back from Michigan yet on need aid?

[existenz]

Nope.

[Apple Tree]

I called the admissions office, and she said the awards should be on the admitted students website. I said I didn't see any need-based aid in my account, and she informed me I was not eligible for it. So if you have received the loan amount they offered, the need-based aid should have come with it (if you were eligible). At least that's the impression I got.

[cardinalandgold]

I called the admissions office, and she said the awards should be on the admitted students website. I said I didn't see any need-based aid in my account, and she informed me I was not eligible for it. So if you have received the loan amount they offered, the need-based aid should have come with it (if you were eligible). At least that's the impression I got.

[shaville]

So I heard back today about need aid: got some loans but no grants. Mostly kind of pissed that Michigan (and other elite schools) have the audacity to charge such outrageous sums for their goddamn degree. It's pretty crazy they expect us to go so far in debt for good, but uncertain, employment prospects. Getting no need-based grants was especially frustrating given that I made 10k last year and have no assets- and given that Michigan talks about it's generosity with aid. Fuck Michigan- I'll go somewhere else next year for free.

[bees]

So I heard back today about need aid: got some loans but no grants. Mostly kind of pissed that Michigan (and other elite schools) have the audacity to charge such outrageous sums for their goddamn degree. It's pretty crazy they expect us to go so far in debt for good, but uncertain, employment prospects. Getting no need-based grants was especially frustrating given that I made 10k last year and have no assets- and given that Michigan talks about it's generosity with aid. Fuck Michigan- I'll go somewhere else next year for free.

Wow, you are quite upset. I made 10k last year and have no assets and I wasn't even dreaming of getting need based aid from Michigan

[tallboone]

Pretty much everyone who attends law school has "need." Very few of us have $150k sitting around waiting to be spent on tuition. That being said, thank US News for the ridiculous cost of attendance.

[shaville]

Sure noone can pay it out of pocket. That doesn't justify the expectation on the part of these schools that people should place themselves under a crippling debt burden in order to go. Maybe I really shouldn't have expected any need-based grant aid- though Michigan routinely advertises its generosity in exactly that area. To me, earning 10k a year shouldn't eliminate the possibility of aid. Sure the problem is with USNWR. It is also with the law schools. However, responsibility for high tuition ultimately lies with the continuous stream of glossy eyed prospective students willing to pay almost anything to go to these schools.

[ShibaDan]

I really want to to go Michigan and when I took that survey thing it said I was ineligible too, and I like you, I was kind of upset. However, if you really do have special need and think this is a mistake fill out the special circumstances form. I did this and e-mailed with the dean of fin aid. She was very kind and helpful and in the end I did end up getting some need aid. So, don't write them off completely yet. I hope it works out for you, good luck!

[ShibaDan]

One more thing: I saw somewhere that direct lender schools GradPlus loans are 7.9% instead of 8.5%? Anyone know if this is true, and if Michigan qualifies?

[fortissimo]

One more thing: I saw somewhere that direct lender schools GradPlus loans are 7.9% instead of 8.5%? Anyone know if this is true, and if Michigan qualifies?

Yes, Michigan is a direct lender.

[Shlonster]

One more thing: I saw somewhere that direct lender schools GradPlus loans are 7.9% instead of 8.5%? Anyone know if this is true, and if Michigan qualifies?

Yes, Michigan is a direct lender.

Can someone expand upon all of the above?

[snickersnicker]

I really want to to go Michigan and when I took that survey thing it said I was ineligible too, and I like you, I was kind of upset. However, if you really do have special need and think this is a mistake fill out the special circumstances form. I did this and e-mailed with the dean of fin aid. She was very kind and helpful and in the end I did end up getting some need aid. So, don't write them off completely yet. I hope it works out for you, good luck!

When did you email explaining your special circumstances, and when did you find out that you got need-based aid? I just got my financial aid package, and there were NO need-based grants or anything other than $20,500 in loans, with an estimated $90,440 cost of attendance and living expenses for the 2010-2011 year. Does this mean that the rest will be made up with forthcoming need-based aid?

Seriously, my family is below the poverty line, and has been for decades. If I don't get some kind of need-based aid, or at least more loans, I will not be going to law school. I already emailed and spoke with the Dean of Financial Aid and filled out the NeedAccess forms and my FAFSA and all that.

[holydonkey]

One more thing: I saw somewhere that direct lender schools GradPlus loans are 7.9% instead of 8.5%? Anyone know if this is true, and if Michigan qualifies?

At ASW, the head of the financial aid office confirmed that the Grad Plus loans would be at 7.9%. So if we go to Michigan we don't have to worry about life-killing debt, only life-destroying debt!

[fortissimo]

I really want to to go Michigan and when I took that survey thing it said I was ineligible too, and I like you, I was kind of upset. However, if you really do have special need and think this is a mistake fill out the special circumstances form. I did this and e-mailed with the dean of fin aid. She was very kind and helpful and in the end I did end up getting some need aid. So, don't write them off completely yet. I hope it works out for you, good luck!

When did you email explaining your special circumstances, and when did you find out that you got need-based aid? I just got my financial aid package, and there were NO need-based grants or anything other than $20,500 in loans, with an estimated $90,440 cost of attendance and living expenses for the 2010-2011 year. Does this mean that the rest will be made up with forthcoming need-based aid?

Seriously, my family is below the poverty line, and has been for decades. If I don't get some kind of need-based aid, or at least more loans, I will not be going to law school. I already emailed and spoke with the Dean of Financial Aid and filled out the NeedAccess forms and my FAFSA and all that.

I'm not sure if you are getting need-based aid, but I know that unless you have terrible credit, you should be able to at least get the full amount in loans. The 20,500 is the annual max for the Stafford Loan only (subsidized and unsubsidized) but GradPlus loans cover everything else that you need, including COL.

I know that you can also "contest" your FA outcome. For example if you don't get any need-based grants but only get loans, you can fill something out on Mich's website (I think, I never did this) and explain your circumstances.

[thalassocrat]

One more thing: I saw somewhere that direct lender schools GradPlus loans are 7.9% instead of 8.5%? Anyone know if this is true, and if Michigan qualifies?

Yes, Michigan is a direct lender.

Can someone expand upon all of the above?

There are two ways to get federal education loans: through the school directly or through a lender. For GradPLUS loans, if one borrows the money from the school itself (that is, if the school participates in the Federal Direct Student Loan Program), the interest rate is 7.9%. If one borrows from a lender other than the school (through the Federal Family Education Loan Program), the loan will have an interest rate of 8.5%. Because Michigan participates in the first program, if you attend and take a GradPLUS loan you'll get it at the lower interest rate.

[cardinalandgold]

One more thing: I saw somewhere that direct lender schools GradPlus loans are 7.9% instead of 8.5%? Anyone know if this is true, and if Michigan qualifies?

Yes, Michigan is a direct lender.

Can someone expand upon all of the above?

There are two ways to get federal education loans: through the school directly or through a lender. For GradPLUS loans, if one borrows the money from the school itself (that is, if the school participates in the Federal Direct Student Loan Program), the interest rate is 7.9%. If one borrows from a lender other than the school (through the Federal Family Education Loan Program), the loan will have an interest rate of 8.5%. Because Michigan participates in the first program, if you attend and take a GradPLUS loan you'll get it at the lower interest rate.

Just got my financial aid award from Michigan and the fact that they are a direct lender is the only bright spot in my FA package. I knew that I would most likely be facing full sticker at Michigan, but now that it's a reality the prospect of taking out that much debt is very scary, even for a great school like Michigan.

[thisamericanlife]

found out today that I get to pay sticker price too. I don't know what to feel.

[jakeoooh]

Bees- if you made only $10k last year, why wouldn't you expect to qualify for need based aid? I think the poverty threshold for a single person in the US is around $11k a year. Wouldn't falling under that line demonstrate that you are a 'needy' applicant? I don't think most people have $150k sitting around, but at the same time only around 12% of the US population is considered to live below the poverty line... Obviously Michigan disagrees, but I would think that the pool of individuals who both have numbers for a T14 school and income below the poverty-line, would be pretty small. As a result, I don't find it outlandish that if you are such an applicant, you might expect to qualify for need-based money. It makes me wonder what the need cut-off is at Michigan? Someone earning $5k a year? $500 a year? Are there that many homeless people with 3.67/168's applying that all the need-based money is taken up?

[bees]

Bees- if you made only $10k last year, why wouldn't you expect to qualify for need based aid? I think the poverty threshold for a single person in the US is around $11k a year. Wouldn't falling under that line demonstrate that you are a 'needy' applicant? I don't think most people have $150k sitting around, but at the same time only around 12% of the US population is considered to live below the poverty line... Obviously Michigan disagrees, but I would think that the pool of individuals who both have numbers for a T14 school and income below the poverty-line, would be pretty small. As a result, I don't find it outlandish that if you are such an applicant, you might expect to qualify for need-based money. It makes me wonder what the need cut-off is at Michigan? Someone earning $5k a year? $500 a year? Are there that many homeless people with 3.67/168's applying that all the need-based money is taken up?

The reason you have to fill out the needaccess form is so Michigan can see how much our parents make. My parents make far too much for me to get need based aid (yet not enough to pay for law school, which they actually really want to help with). If people whose families are below the poverty line are being denied need based aid, I would turn down any aid I was offered anyways (unless they wanted to throw some merit aid at me, just a little would be so nice). Others need it far more than me.

I will be paying for my education with whatever I get based on my FAFSA and the rest will be covered with GradPlus loans.

[jakeoooh]

Duh, Needaccess... Now your comment makes much more sense. Apparently I didn't read beyond my own circumstances (because I'm old I didn't have to fill out parental info) and got my facts twisted. Oh well. At least I know Michigan isn't turning away people who have a clearly demonstrated need. Plus I learned something new about Needaccess.

[snickersnicker]

Duh, Needaccess... Now your comment makes much more sense. Apparently I didn't read beyond my own circumstances (because I'm old I didn't have to fill out parental info) and got my facts twisted. Oh well. At least I know Michigan isn't turning away people who have a clearly demonstrated need. Plus I learned something new about Needaccess.

No, Michigan is still turning away people with clearly demonstrated need. I've never made more than $4000 in any given year and my family, like I said, was below the poverty line while I was growing up. I'm considered 'independent' now, so my mom's financial information isn't even a consideration, correct?

[bees]

Duh, Needaccess... Now your comment makes much more sense. Apparently I didn't read beyond my own circumstances (because I'm old I didn't have to fill out parental info) and got my facts twisted. Oh well. At least I know Michigan isn't turning away people who have a clearly demonstrated need. Plus I learned something new about Needaccess.

No, Michigan is still turning away people with clearly demonstrated need. I've never made more than $4000 in any given year and my family, like I said, was below the poverty line while I was growing up. I'm considered 'independent' now, so my mom's financial information isn't even a consideration, correct?

I think this is incorrect. Need based aid does take your parents' income into account. If you think about it, why would a school even require the needaccess form to determine if they should give you money? They get all the relevant information from your FAFSA (income, current assests, etc.), so the only reason I can think of to require the additional form is to get your parents' financial info.

[snickersnicker]

My NeedAccess application had no space for parent income or anything like that. The only time 'parent' was even mentioned was when it asked how much parents would be giving toward the cost of attendance, and my answer was zero. Am I missing something? It says my NeedAccess application is 100% complete and there's nothing about parent finances.

[bees]

My NeedAccess application had no space for parent income or anything like that. The only time 'parent' was even mentioned was when it asked how much parents would be giving toward the cost of attendance, and my answer was zero. Am I missing something? It says my NeedAccess application is 100% complete and there's nothing about parent finances.

I never ended up filling out the form, so maybe Michigan's form does not require the following:

Parents' Information
Some institutions may require parents' financial data even though the student claims independent status. You are required to provide this information or it may result in denial of consideration for financial assistance.

If parents are married, they should both enter their information in the Parents' section.

If parents are separated or divorced, the main supporting parent (and stepparent, if applicable) should complete the Parents' section, and the other parent (and stepparent, if applicable) should complete the Divorced/Separated Parents' section.

The main supporting parent is the parent with whom the applicant lived the majority of the time in the last 12 months. If the applicant did not live with one parent more than with the other in the last 12 months, it is the parent who provided the most financial support during that time. If neither parent provided greater support during the last 12 months, it is the parent who provided the greater support during the most recent year that the applicant was actually supported by a parent.

http://www.needaccess.org/financial-aid ... ements.htm