Understanding Financial Aid | Michigan Technological University

All incoming students who complete the Free Application for Federal Student Aid (FAFSA) will receive an estimated financial aid package for the upcoming academic year. The financial aid package is not a tuition bill, but rather an estimate of both charges and financial aid awards. Tuition bills for the fall semester are posted in July.

Interactive Sample Financial Aid Packages

Below are interactive samples of the financial aid packages that are sent to resident and non-resident prospective students. These sample letters provide additional helpful information and definitions. Please note that these letters are only samples. The type and amount of financial aid each student will be eligible to receive varies depending on their individual academic performance and FAFSA data.

Resident Undergraduate Students

Example Package Letter

Non-Resident Undergraduate Students

Example Package Letter

Additional Information

Please see the information below to better understand the components of your financial aid award package. Please note that if you used estimated information to complete your FAFSA, your financial aid may change once the estimated information is updated.

Verification

The US Department of Education randomly selects students who must show that the data provided on their FAFSA is accurate. If you are selected for verification, send in any requested documents as soon as possible. We ask that the requested documents be submitted to the Student Financial Services Center before June 1. Your financial aid will show on the Financial Aid tab of your MyMichiganTech account, but will not be applied to your tuition bill until the required documentation has been received and reviewed. When we receive your documentation, we will review the data and make corrections as necessary. This may impact your SAI, which could change your aid package, such as reducing or eliminating the University Student Aid Grant. Please note: a loss of financial aid will occur if the requested documentation is not received.

Financial Aid Communications

Future correspondence from the Student Financial Services Center will be through MyMichiganTech and HuskyMail. This includes revised financial aid award notices and reminders. The Student Financial Services Center will also contact you via MyMichiganTech and HuskyMail regarding your semester bill.

Student and Parent Access to Financial Aid Information

You can access your financial aid information on Banweb or through MyMichiganTech. You can also access your bill and other important University information through MyMichiganTech. You will be able to give your parents access to this information by granting them Guest Access.

Student Rights and Responsibilities

As a Michigan Tech student receiving financial aid, you need to know and understand your rights, responsibilities, and expectations, including enrollment requirements and satisfactory academic progress. In addition, student disclosures are available for your review, which include enrollment and placement statistics and safety information.

Your Financial Aid May Change

Because of the nature of federal, state, and institutional financial aid program guidelines and funding, the aid offered and the information contained in this letter are subject to change.