Michigan Technological University (MTU) Financial Aid and Scholarships
Students Receiving Aid
89%
Total Aid Amount
$60.522M
Financial Aid Official Website
www.mtu.edu/finaid/
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.
Scholarship
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
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
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.
Employment
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.
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