Finance 101

Applying for Financial Aid

University Merit-Based Awards

At Michigan Tech, we make it simple: your application for admission also serves as a scholarship application. Applicants accepted for admission prior to January 15 for the following academic year are automatically considered for merit-based University scholarships. The exception is the Michigan Tech Leading Scholars Award (see for application requirements). Awards are based on eligibility criteria and an index that considers your academic record, including ACT or SAT scores, cumulative GPA, and class rank (if available).

Federal and State Aid

To apply for federal and Michigan financial aid, file a Free Application for Federal Student Aid (FAFSA) as soon as possible after January 1 and before March 1. File online at You'll need Michigan Tech's Federal School Code (002292) to complete your application. Please be prepared to provide any requested documents to the Financial Aid Office for verification purposes. We'll let you know what we need and when. Didn't file by March 1? You should still go ahead and file a FAFSA.

Financial Aid Package

Once you've completed your FAFSA and provided the requested information, we can prepare your financial aid package, which is the total amount of aid offered to you by Michigan Tech University. Your package will include need-based scholarships, grants, loans, and/or work-study opportunities for which you are eligible. Prospective students will receive their packages in mid-March. Current students will receive their awards in  July. At that time, you may accept or decline any financial aid in your package.

Awarding Criteria for Financial Aid

First-Year Students—Recipients of first-year awards are selected on the basis of high school class rank, high school cumulative grade point average, national test scores, special criteria established by sponsors of scholarships, and/or financial need. Financial aid decisions for incoming students are announced in March and April for fall admission.

To enhance eligibility, applicants should take the American College Test (ACT), the College Entrance Examination Board Scholastic Aptitude Test (SAT), or the PSAT/National Merit Scholarship Qualifying Test (PSAT/NMSQT) prior to January 1 of their senior year.

Transfer Students—Scholarships for transfer students are available primarily to students having completed two full-time semesters at any college or university. Recipients of new transfer awards are selected on the basis of college academic record. Students should apply to Michigan Tech by January 15 of the academic year preceding their intended term of enrollment.

Enrolled Students—Enrolled students who indicate their intention to return to Michigan Tech for the following academic year by registering for fall classes prior to the registration deadline are considered on a competitive basis for scholarships. Awards for enrolled, returning students are announced in  July.


Michigan Tech offers scholarships sponsored by the University, individuals, companies, and by local, state, and federal agencies. The following list is not inclusive; for a complete list of scholarships and more information on application procedures, visit the Financial Aid website.

Michigan Tech Leading Scholar Awards—Michigan Tech's premier scholarship program is merit based and awarded to US domestic residents who are members of the current year's graduating high school class. Three Michigan-resident students will be awarded scholarships equivalent to regular full-time tuition, plus room and board, and a stipend of $1,000 each year. In addition, twenty-seven Michigan-resident students will receive $8,000 per year. Three out-of-state students will receive a value equivalent to regular full-time, out-of-state tuition. In addition, seven out-of-state students will receive $17,000 per year. Candidates must be recommended for the award by a high school teacher. Scholarship applications and teacher recommendation must be received by October 15. Leading Scholar applicants must also have applied to Michigan Tech University. The awards are renewable for four years (eight semesters). Recipients must maintain a minimum 3.25 cumulative grade point average to have the award renewed for the second, third, and fourth years. Recipients receiving an $8,000 or $17,000 scholarship must maintain a minimum cumulative GPA of 2.50 for renewal.

Presidential Scholars Program—These merit-based awards, which can be used for any baccalaureate curriculum, vary from $1,500 to $4,500 and support Michigan residents who are members of the current year's graduating class from Michigan high schools. Recipients must maintain a cumulative grade point average of 2.50 at the end of each spring semester. Continuous full-time undergraduate enrollment and acceptable social behavior must also be maintained. Students must live in the University's residence halls for their first and second academic years to maintain this scholarship.  Students graduating from high schools within Houghton, Keweenaw, and Baraga counties (and have commuter status) are exempt. 

Michigan Tech Transfer Scholarship—These merit-based awards, which can be used for any degree curriculum, support new incoming undergraduate transfer students who are Michigan residents and who have attended any college or university for a minimum of two semesters. The award values range from $1,500 to $3,000. Recipients must maintain a cumulative grade point average of 2.50 at the end of each spring semester. Continuous full-time undergraduate enrollment and acceptable social behavior must also be maintained.

Michigan Tech Merit Scholarships—These merit- and need-based awards, which can be used for any baccalaureate curriculum, support US citizens who are members of the current year's graduating high school class and who are National Merit Scholarship Qualifying Test finalists. Michigan Tech must be listed as the first-choice university with the National Merit Corporation. The value ranges from $1,000 to $2,000.

International Ambassador Scholarships—These merit-based awards, which can be used for any degree curriculum, support citizens or residents of countries outside the United States. The value ranges from $1,500 to $6,000. 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. Proof of community service and evidence of leadership are also required.

National Scholars Awards—These merit-based awards support non-Michigan residents of the US or residents of Canada. Awards to new first-year students are competitively awarded based on eligibility criteria as well as an index that considers the applicant's high school academic record and available test scores (ACT or SAT). First-year-student awards range from $7,000 to $12,500. Transfer students must have a minimum cumulative grade point average of 3.00 (4.00 scale), based on full-time enrollment for at least two semesters. Transfer-student award values range from $4,000 to $7,000.  Scholarship recipients must maintain a cumulative grade point average of 2.50 at the end of each spring semester. Continuous full-time undergraduate enrollment and acceptable social behavior must also be maintained. Students must live in the University's residence halls for their first and second academic years to maintain this scholarship.

University Student Awards—This program is designed to provide financial assistance to incoming and current students at Michigan Tech. Awards are made based on academic potential and financial need. The amount of each award is variable, depending upon need. Michigan residents may be awarded up to the amount of full-time, in-state tuition. Students paying nonresident rates may be awarded an amount up to the difference between Michigan-resident tuition and nonresident tuition. Changes in expected family contribution (FAFSA results) and financial need may change the value of the University Student Award. This need-based award is available for a maximum of twelve semesters of undergraduate study. Recipients of this award must attend full-time, reapply each year, and meet the required minimum 2.00 cumulative GPA.

ROTC Scholarships—These include scholarships for both US Army and Air Force programs.

  • The US Air Force offers two- to four-year scholarships for students who qualify for an Air Force commission. Scholarships typically cover partial tuition up to full tuition plus lab fees. Scholarship students also receive $900 per year for books. A $300 to $500 monthly tax-free allowance is provided to all contracted cadets. High school students must apply for the scholarship by December 1 of their senior year at Interested college students with three or more years remaining to complete their degrees may be eligible for In-College or Express Scholarships and should stop by the ROTC building to learn more about these opportunities. Students should contact the Air Force ROTC Department at 906-487-2652 or
  • The US Army ROTC (Department of Military Science) offers its cadets scholarships that pay full tuition, fees, and $1,200 in books per year. Scholarships are offered to first- through third-year students and are available for up to a total of five years to allow for completion of degree requirements. Once contracted, cadets will additionally receive a $300 to $500 tax-free monthly stipend, depending on their year in school. High school students should apply online for a four-year Army ROTC scholarship before February of their senior year. Scholarships are also available for graduate students. Upon graduation and completion of all military training requirements, cadets will be commissioned as second lieutenants in the US Army, US Army Reserves, or Army National Guard. Students should contact the Army ROTC Department at 906-487-2650 or visit our

Other Aid Programs

To be considered for these programs, students must submit the Free Application for Federal Student Aid (FAFSA).

Federal Pell Grants—This federal government program assists undergraduates. The amount of the grant depends on the cost of attendance, expected family contribution, enrollment status, and period of enrollment. Award values can change yearly. The current maximum is $5,645 for 2013-2014. A Pell Grant does not have to be repaid.

Federal Supplemental Educational Opportunity Grants (FSEOG)—These federal grants assist Pell Grant recipients with exceptional financial need. The award varies depending on the amount of funds available.

Ray E. and Eleanor Cross TECHAID Student Loans—The University has need-based loan funds available to qualified students who are enrolled at least half-time. Loans will be determined on the basis of financial need.

Federal Perkins Loans—These need-based loans are provided by federal and University funds. Undergraduate students may borrow up to a cumulative maximum of $27,500. Interest does not accumulate until repayment period begins after graduation. Deferment of repayment is permitted for certain kinds of federal and volunteer service.

Stafford Loans—Students may be eligible for a subsidized or unsubsidized student loan from the William D. Ford Federal Direct Loan Program. The subsidized loan is based on financial need. The unsubsidized loan is not need based.

PLUS Loans—These federal loans are available to parents to help pay the educational costs of their dependent students enrolled at least half-time.

Federal Work-Study Program—This program, based on financial need, provides assistance through employment on campus. Every effort is made to place students in jobs related to their skills, interests, and fields of study. Work-study participants receive biweekly paychecks and are generally employed eight hours per week.

Veterans Administration Education Benefits—Various programs are available for veterans, reservists, and their dependents. Information and applications can be obtained from state veterans affairs offices or from the coordinator of veterans affairs at Michigan Tech.

National Guard Programs—Information about these programs can be obtained from state education offices.

Vocational Rehabilitation Educational Benefits—Financial assistance is available on a need basis to students with physical or mental disabilities resulting in an impediment to employment. Information can be obtained from state rehabilitation offices.

Bureau of Indian Affairs Programs—Need-based assistance is available to students who are qualified Native Americans. Students should contact their tribal education office for application procedures.

Keeping Your Aid

Required Credits for Financial Aid—Undergraduates must be enrolled each semester in the number of billable credit hours listed below to receive the full value of their awards.

Federal Perkins or Tech Aid Loan6
Federal SEOG6
Federal Pell Grant—minimum current criteria or more
    Full grant12
    Three-quarter-time grant9–11.5
    Half-time grant6–8.5
    Less than half-time grant0.5–5.5
University Student Award12
* Students carrying 6–11 credits may receive a reduced Michigan Competitive Scholarship.

Satisfactory Progress Policy—Federal financial-aid regulations require that a student must make satisfactory progress to remain eligible for financial aid. Financial aid programs affected by this policy are Federal Pell Grant, Federal Perkins Loan, Federal Work-Study, Federal Supplemental Educational Opportunity Grant, Federal Direct Subsidized Loans, Federal Direct Unsubsidized Loans, Federal Direct PLUS Loans, Michigan Competitive Scholarships and Michigan Tuition Incentive Program (TIP).

At Michigan Tech, in order to maintain consistency, a minimum requirement for financial aid has been established. However, there may be some types of aid, e.g., scholarships, with more stringent requirements; see Appendix B for details.