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Financial Aid Programs Administered by the State of Michigan
• Children of Veterans Tuition Grant Fact Sheet The Children of Veterans Tuition Grant provides undergraduate tuition assistance to certain children of qualified veterans who meet Michigan residency requirement. The renewable award pays a maximum of $2,800 per academic year.
| • Electronic Payment Savings (EPS)* Electronic Payment Savings provides all borrowers with an option for automated loan payments and an interest rate reduction of 1/4 of 1% (0.25) on all Federal Family Education Loan Program loans and MI-LOAN Program alternative student loans. | • GEAR UP Scholarships The mission of GEAR UP is to significantly increase the number of low-income students who are prepared to enter and succeed in post-secondary education. There are several GEAR UP programs currently operating in Michigan. | • Michigan Competitive Scholarship Fact Sheet The Michigan Competitive Scholarship is a program funded by the state of Michigan and is based on both financial need and merit. Students may use Competitive Scholarship funds at degree-granting Michigan public and independent postsecondary institutions. Awards are restricted to the cost of tuition and fees. | • Michigan Education Savings Program MESP offers families many benefits in saving for future college education costs including flexibility in using the saved funds, broad choice of investments, low minimum contributions, a State of Michigan matching grant, and much more. | • Michigan Education Trust The MET program is designed to help students and their families save for a future college education through the prepurchase of undergraduate tuition at any Michigan public university or college for a child residing in Michigan. | • Michigan Merit Award The MMA was established to reward academic excellence based on high school assessment tests. Students may earn up to $3,000 which must be used for postsecondary educational purposes. | • Michigan Promise Scholarship Pursuant to PA 132 of 2009, funding was not provided for the Michigan Promise Scholarship for the current Fiscal Year 2009-10. | • Michigan Tuition Grant Fact Sheet The Michigan Tuition Grant (MTG) is intended to provide students with increased access and choice to attend independent, degree-granting Michigan postsecondary institutions. | • Police Officer's and Fire Fighter's Survivors Tuition Program Public Act 195 provides for the waiver of tuition at public community colleges and state universities for the surviving spouse and children of Michigan police officers and fire fighters killed in the line of duty. | • Teacher Loan Cancellation Listing Teachers who are new borrowers as of October 1, 1998, with no outstanding loan balance on a Federal Family Education Loan Program or Federal Direct Loan Program loan as of that date, or the date the borrower obtained a loan after October 1, 1998, may qualify for teacher loan forgiveness if they teach full-time for five consecutive years in a low-income school. | • Tuition Incentive Program Fact Sheet This high school completion program offers to pay for the first two years of college and beyond for identified students who graduate from high school or complete their GED before age 20. |
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