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Funding and Annual Reports
Current Fiscal Year (FY) Funding – October 1 through September 30
Student aid programs and funding are authorized annually as part of the state's budget process and are subject to change. Program funding for Academic Year 2023-24 (September 1 through August 31) was approved with P.A. 103 of 2023. Program funding for Academic Year 2024-25 (September 1 – August 31) was approved with P.A. 120 of 2024. The programs are as follows:
Program |
FY22 |
FY23 |
FY24 |
FY25 |
Children of Veterans Tuition Grant and Police Officer’s and Fire Fighter’s Survivor Tuition Grant |
$1,400,000 |
$1,400,000 |
$1,800,000 |
$2,000,000 |
Dual Enrollment Program |
$3,000,000 |
$3,000,000 |
$3,000,000 |
$3,500,000 |
Futures for Frontliners/Path II |
FY 21 carry forward + $25,000,000 |
FY 22 carry forward |
FY 23 carry forward |
FY 24 carry forward |
Fostering Futures Scholarship |
$750,000 |
$750,000 |
$750,000 |
$750,000 |
MI GEAR UP Scholarship |
$3,200,000 |
$3,200,000 |
$3,200,000 |
$3,200,000 |
MI Future Educator Fellowship |
- |
$25,000,000 |
$25,000,000 |
$25,000,000 |
MI Future Educator Stipend |
- |
$50,000,000 |
$50,000,000 |
$50,000,000 |
Michigan Achievement Scholarship/Skills Scholarship |
- |
$250,000,000 |
$300,000,000 |
$330,000,000 |
Michigan Competitive Scholarship |
$29,861,700 |
$29,861,700 |
$20,261,700 |
$19,930,900 |
Michigan Tuition Grant |
$42,021,500 |
$42,021,500 |
$39,221,500 |
$41,552,700 |
Michigan Reconnect Scholarship |
FY 21 carry forward + $40,000,000 |
FY 22 carry forward + $40,000,000 |
FY 23 carry forward + $45,000,000 + $70,000,000 |
FY carry forward + $52,000,000 |
Tuition Incentive Program |
$71,300,000 |
$73,800,000 |
$96,800,000 |
$93,800,000 |
Historical Funding
Since 1964, MI Student Aid has provided funding for scholarships and grants exceeding $5 billion, serving more than four million Michigan students to achieve their higher education goals.
All future awards are subject to approved and available funding.