MI New Economy
The $79 million COVID Near Completers Fund will increase college affordability for Michigan residents, close equity gaps, improve job opportunities, and support the advancement of local economies. Many students drop out of college because of an inability to pay outstanding fees. The $79 million investment in first-dollar scholarships will limit financial burdens faced by students who have completed nearly all of the necessary requirements to earn a degree. While there is not a common profile for a "near completer," the funds seek to support individuals in their efforts to increase employment qualifications as well as take part in Michigan's evolving economy. The investment helps reduce the financial burdens faced by students re-entering school and lends incentive to finish a degree. The initiative increases the number of workers with a degree, furthering the State's goal for 60% of adults obtaining a postsecondary credential by 2030.