U-M education is most affordable

Updated 2:20 PM July 5, 2007

U-M education is most affordable

By Laurel Thomas Gnagey

A U-M education is affordable—in fact more so than any other public university in the state and public institution in the Big Ten, Provost Teresa Sullivan said in a June 21 presentation to the Board of Regents. During her update on financial aid that included information about two new programs implemented post-Proposal 2, Sullivan said the University hopes to dispel the myth that students can't afford a U-M education.

"I think there's still a perception that the University of Michigan is too costly and that's because financial aid is not well understood. We do meet the need of every Michigan resident and do as much as we can for nonresidents," Sullivan said during a media briefing that preceded the board meeting. "We're within the reach of the pocketbooks of lots of students, and we want more students to know that."

Sullivan explained the entire financial aid process, including how U-M allocates nearly $60 million of financial aid in institutional funds and an additional $35 million from academic units. She and Executive Financial Aid Director Pamela Fowler also explained two new scholarship programs that have been instituted post-Proposal 2.

Although it's too early to tell the effect the Michigan Tradition Award and the Michigan Experience Award will have on assembling a diverse class, University leaders say early indications are that they will prove helpful in targeting underrepresented students.

The two programs replace the Scholar Recognition Award and Michigan Scholar Award, which considered race and ethnicity as one of several factors.

The Michigan Tradition Award provides $10,000 for each of four years, awarded to students from high school and neighborhood clusters that are underrepresented at U-M, and who meet one or more of the following criteria: First generation college student; single parent household; or low socioeconomic status (income under $50,000).

The Michigan Experience Award provides $10,000 for each of four years to students who participated in a state or federal early awareness or college readiness program, such as Upward Bound, Talent Search or Gear-up.

Descriptor PLUS is one tool the University uses to help identify students for the two programs. Descriptor PLUS is a commercial software package acquired from the College Board that applies geodemographic measures, a common marketing tool, to help identify neighborhoods and high schools that are underrepresented at U-M.

Fowler says changing programs in the middle of the recruitment season meant scholarship notifications went out later than usual, making it likely that some students targeted by the two programs already had decided to go elsewhere.

"We've always known that if you want to offer a scholarship and be successful you should be early at the table," Fowler said, adding that ideally awards are offered by Thanksgiving.

Sullivan also highlighted the two-year-old MPACT program that provides need-based grant assistance for low- and middle-income students to help reduce or eliminate the need for loans. Under the program, families with incomes up to $60,000 qualify for awards ranging from $500-$1,500. In 2005-06, 3,169 students received an M-PACT scholarship.

In remarks at the beginning of the board meeting President Mary Sue Coleman thanked donors for their "unflagging support" for student financial aid. "In just eight months, more than 3,500 donors have donated more than $12 million," Coleman said. The President's Office matched that funding dollar-for-dollar. With additional gifts to The Michigan Difference Campaign for professorships, the donor challenge total for the eight months was $40.7 million.

"Many alumni are grateful for their experience and want to make it possible for others," Sullivan said. "The most important thing we're doing is outreach to donors about needs of students."

For more information on the financial aid process go to www.finaid.umich.edu.

U-M education is most affordable

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