MI New Economy
The COVID Class Connect Fund will increase college affordability for Michigan's most underserved students, close equity gaps, reduce student loan debt and support the prosperity of local economies. College affordability significantly impacts students' decisions to enroll in, and remain at, postsecondary institutions.
The $100 million investment in scholarships will limit financial burdens faced by the students most in need of financial assistance. As a result, the State expects more students to pursue postsecondary degrees and certificates, which will lead to greater economic opportunity. With Michigan's median household income hovering around $60,000, nearly half of the State's households are eligible for these scholarships.
Students who may not consider attending a postsecondary institution because of financial constraints can utilize these funds to cover their costs. This investment will contribute to the efforts of Sixty by 30.