Avg. Federal Grant
Avg. Federal Loan
Total Aid Awarded
Students Receiving Aid
Percent of Students Receiving Financial Aid.
Total Aid Amount
Average Total Aid Awarded per year.
Financial Aid Official Website
Michigan Technological University tries and provides quality education to its students at an affordable price.
The cost may vary based on a program, the university also tries and help all its students to pay off their educational expenses. At present, there are 89% of students who are receiving certain aid or financial assistance from the university.
The average financial aid students receive is $5,185. Students receive assistance in various forms such as Scholarship, Grants, Loan, Employment.
Scholarships are the most familiar and sought-after type of financial aid. All admitted students are automatically considered for most merit-based scholarships; a special application form is not required, except for the Michigan Tech Leading Scholars Award and career interest scholarships. Most scholarships are renewable provided the recipient meets the renewal criteria. In the spirit of philanthropy, some or all of a scholarship may be funded by a generous donor to the university.
Grants are gift aid based on financial need and are available to US citizens and permanent residents.
Accepted students are automatically considered for grant programs if their FAFSA results are released to Michigan Tech. Students must apply for grant renewal each year. Some grants available are Federal Pell Grant, Federal Iraq, and Afghanistan service grant programs.
Loans can be a useful tool to help students pay for their Michigan Tech education. Loans consist of borrowed funds, which must be repaid.
They are available to most US citizens and permanent residents. Each loan program, whether federal or private, has certain maximum limits for borrowing; however, students may not borrow more than the cost of attendance less any other financial aid received.
Some of the loans available are Federal Direct Loan, Federal Direct PLUS Loan, Alternative Loan, and many others.
Part-time employment on campus is available through government-funded and University-funded programs.
Students who complete the Free Application for Federal Student Aid (FAFSA) and indicate they would like to work on campus are automatically considered for work-study employment.
Student Receiving Aid
Federal Grant Aid
State Grant Aid
Institution Grant Aid
Average Aid Awarded
The University provides financial aid to the students so that their education does not get affected due to money. They provide students various opportunities to get financial aid for paying the fee. The total aid awarded by the university is $60,521,595 and approximately 89% of the students receive the financial aid.
Federal Grant average aid is $5,266,with the percentage of students receiving it standing at 26%.
State Grant average aid is $4,625 and the percentage of students receiving it is 25%.
92% of the students receive Institutional Grant and the average aid amount ranges up to $9,880.
Pell Grant average aid worth an average of $4,473 is received by 24% of students applying for it.
Average Federal Aid Per Year
$30,001 - $48,000
$48,001 - $75,000
$75,001 - $110,000
The Michigan Technological University plans financial aid by keeping in mind many factors specially Income of the family.
The financial aid is provided according to the income slab of the family. The Income slab and the amount student can receive is given below-
For the income slab between $0 to 30,000 the aid amount comes up to $19,913. While there is a slight change is observed in the aid amount when the income slab $30,001 to 48,000, the amount comes up to $18,307.
For an income slab $48,001 to 75,000 the aid provided decreases to $15,828.
When the income slab increases to $75,001 to 110,000 the aid amount decreases to $11,100.
Average Loan Amount
Average Loan Amount received per year.
Students Taking Out Loans
Loan Default Rate
Big Rapids, Michigan
Mount Pleasant, Michigan