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| APPLYING FOR FINANCIAL AID APPLICATION TIPS and "EXPECTED FAMILY CONTRIBUTION" | ||
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FINANCIAL AID SUMMARY FINANCIAL AID FORMULA |
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| Cost of Attendance (COA) ----------------- Cost (everything) to attend a college for one year. | ||
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Expected Family Contribution (EFC) ---- COA amount your family must pay. | |
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Financial Aid Eligibility Amt. ("Need")-- COA amount the college should pay. | |
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"Other Resources" (gifts, scholarships, MET, etc…). Usually reduces "Need" first. |
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TYPES OF FINANCIAL AID |
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| Scholarships |
College - Merit/Talent
& need-based; Private - local, national; State - Michigan
Competitive
($1200/yr), Michigan Tuition Grant ($2500/yr), Merit Award-MEAP ($2500?); Military - ROTC, other. |
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| Grants | Pell ($3750?/yr), SEOG ($4000/yr), MEOG ($1000/yr), Adult Part-Time Grant ($600/yr). | |
| Work-Study | Federal and state. College-administered work program. Up to 20 hours per week. | |
| Loans | Perkins ($1500?/yr), Stafford ($2625/yr), PLUS (total COA), MI-LOAN (total COA). | |
| Introduction | Private Contract and Forms for "Non-LCC" Families | Information for LCC Students |
| Back to College Planning | ||
