Supporting students through scholarships and fellowships is Michigan Tech’s top strategic priority. This is especially true now with the need created by COVID-19. Donor-funded scholarships (for undergraduate students) and fellowships (for graduate students) come through two sources—the Annual Scholarship/Fellowship Fund and the Endowed Scholarship/Fellowship Fund. Learn more.
The Numbers
- 90 percent of MTU students receive some type of financial aid
- Of those, 800+ Michigan Tech students receive some sort of donor-funded scholarship
- There are 496 endowed scholarships and 43 endowed fellowships.
- $73M in total scholarships is distributed annually to Tech students
- 23 percent of MTU students are eligible to receive federal aid intended for low-income students
- 57 percent of undergraduate students utilize federal students loans (compared to 40 percent for Michigan State University and 30 percent for the University of Michigan)
- $66,400 median early career salary for a Michigan Tech graduate means socio-economic mobility for many students
Types of Student-Support Funds
The Michigan Tech Fund offers two main types of scholarship and fellowship funds based on the method chosen to support the awards:
1. Annual Scholarship/Fellowship Fund
Offering support to any student with need, this important fund makes a Michigan Tech education possible for many deserving students. Gifts in any amount are gratefully welcomed. You can make a donation to the Michigan Tech Fund online.
2. Endowed Scholarship/Fellowship Fund
In contrast to the total payout policy used for annual funds, endowed funds limit spending to a portion of the investment return. Therefore, the principal (your gift) can be invested in longer-term, higher-yielding assets with the objective of providing growth and a hedge against inflation.
For more information, read about setting up a scholarship or fellowship, call the Office of Advancement at 906-487-3325.
History
Michigan Tech has a long history of awarding donor-funded scholarships. Here are some of the earliest established scholarship funds.
Norrie Scholarship
Established in 1890 in honor of A. Lanfear Norrie, who was a friend of Michigan College of Mines.
Paul M. Kidwell Memorial Scholarship
Established in 1918 by his Kidwell’s father, who was a professor at MCM.
Charles E. Wright Scholarship
Established by his wife, Carrie Wright, sometime prior to 1923. Charles was a friend of MCM.