9.01-9.05

Scholarships and Student Financial Aid

Effective Date: 09/01/2010

9.1 Power to Accept and Award Scholarships

The President is authorized to accept or reject gifts of scholarship and loan funds, and approve the awarding of loans and scholarships to students in accordance with conditions, if any, set by the donors of such awards.

The President is also authorized to approve the awarding of other grants and scholarships administered by the University and to pursue appropriate sources which could offer financial assistance to the students of this University.

Records shall be kept of financial aid awards and sources and made available for audit to assure compliance with any conditions. Such information shall be reported to the Board of Trustees upon request.

History
07/26/28 Delegation of power to award aid
04/06/31 Norrie Scholarship
08/28/31 Botsford Fund
04/10/37 Daughters of the American Revolution Loan
12/05/47 Veterans Loan Fund
05/24/54 Longyear Fund
10/12/62 MHEAA
02/15/63
01/28/82
07/19/94 Clarified Policy
07/15/2010 Was previously Policy 10.1. Renumbered and changed Administration to the President.

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Effective Date: 09/01/2010

9.2 Federal Financial Aid Programs

The University is authorized to participate in the Perkins Loan, the College Work Study, and the Supplemental Educational Opportunity Grant Programs. The Provost and Vice President for Academic Affairs, the Vice President for Student Affairs, and the Director of Financial Aid are designated as institutional representatives. Expenditures for institutional matching funds may be made annually as required.

History
12/13/58
01/28/82
01/22/88 Changed NDSL to Perkins Loan and Supplemental Ed Opportunity Grant Programs
07/19/91 Added Director of Financial Aid
09/18/92 Changed Designate to Executive Vice President/Provost
08/03/2000 Changed Executive Vice President and Provost Title to Provost and Senior Vice President for Academic and Student Affairs
07/15/2010 Was previously Policy 10.2. Renumbered and changed Administration to University; changed title of Provost to current position title.

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Effective Date: 09/01/2010

9.3 Scholarship Programs

All scholarships or awards from University or departmental funds shall be awarded by the President or his designate through and upon the recommendation of the Scholarship Committee. This committee will be appointed by the President from members of the University faculty and staff.

The President is authorized, subject to any maximum set by the Board: 1) to modify the value or amount of any scholarship, award or grant established by the Board of Trustees; and 2) to determine the number, if any, of each which will be awarded in each semester or year. The President will provide at each May Board of Trustees meeting an annual summary of the scholarships, awards and grants awarded for the academic year.

History
09/28/2006
07/15/2010 Was previously Policy 10.3. Renumbered and clarified that award is by the President and established manner of appointment of the committee. Added entire second paragraph. Also see history at end of 9.24.

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Effective Date: 02/24/2011

9.4 Michigan Technological University Leading Scholar Award

Open to first-time domestic freshmen displaying outstanding academic achievement, leadership, creative abilities and high potential for success at Michigan Technological University, for a four year period (8 semesters).

Awards are renewable for second, third, and fourth year students who maintain a cumulative grade point average of 3.25 as of the end of spring semester, acceptable social behavior, and continuous regular full-time undergraduate enrollment.

No replacements are made for students who withdraw.

Scholarship Committee considers requests for extensions of scholarships, but in no case would they be extended beyond 9 semesters. The 9 semesters would apply to those students required to attend a summer semester or who demonstrate extenuating circumstances.

Michigan Residents:

Value: amount equivalent to commonly accepted educational expenses (i.e. regular full-time tuition charges, room, board, plus a $1,000 annual stipend).

Number available: 3 for each incoming freshman class.

Applicants must be residents of the State of Michigan.

Non-Michigan Residents:

Value: Up to regular non-resident full time tuition charges.

Number available: 3 for each incoming freshman class.

Students who are out of state residents will not be eligible for University scholarship programs (Alumni Legacy Award, National Scholar Award, Military Family Education Award, etc.) that reduces their out of state tuition charges in addition to the Leading Scholar Award.

History
09/28/2006
07/15/2010 Was previously Policy 10.3.1.1. Renumbered only. Also see history at end of 9.24.
02/24/2011 Combined Michigan and Non-Michigan Residents under one policy and rescinded policy 9.11.

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Effective Date: 09/01/2010

9.5 Board of Trustees Scholarships

Value: variable ($1,000 minimum to amount equivalent to regular full-time tuition charges).

Number available: equivalent to 120 regular full-time tuition awards for each incoming freshman class.

Applicants must be residents of Michigan and members of the current year's graduating classes of Michigan high schools, except for those dependents of parents who are required to travel extensively or who remain out-of-state or abroad, such as those temporarily transferred by an employer and those in the ministry or military service, may be considered residents if they maintain Michigan as their place of permanent residency.

Awarded, based on academic achievement, for a four-year period (8 semesters) for those students working on a bachelor's degree, and for a two-year period (4 semesters), for those students working on an associate degree.

Scholarship Committee considers requests for extensions of scholarships, but in no case would 4 year awards be extended beyond 10 semesters. The 10 semesters would apply to those students required to attend a summer semester or who demonstrate extenuating circumstances.

Renewable for second, third, and fourth year students who maintain a cumulative grade point average of 2.50 as of the end of spring semester, acceptable social behavior and continuous full-time undergraduate enrollment.

Scholarship Committee considers requests for reinstatement of scholarships from students returning after a withdrawal, depending upon the circumstances of the withdrawal, provided the student had an acceptable grade point average on leaving.

Any student enrolling at Michigan Technological University, for the first time, after Summer 2006 is ineligible to receive the Board of Trustees Scholarship. Current or previously enrolled Michigan Tech students who qualified for the Board of Trustees Scholarship prior to Fall 2006, will be covered under Board of Trustees Policy 9.4. Current or previously enrolled Michigan Tech students who did not qualify for the Board of Trustees Scholarship under Board of Trustees Policy 9.4 will not be eligible for the Michigan Technological University Presidential Scholars Program. Furthermore, the Board of Trustees Scholarship will be terminated at the end of Spring Semester 2011.

History
09/28/2006
07/15/2010 Was previously Policy 10.3.1.2. Renumbered only. Also see history at end of 9.24.

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