Student Loans for Michigan Tech Students
About Michigan Technological University
Michigan Technological University is a private institution located in Houghton, Michigan. The university has five colleges and schools which administer more than 120 degree programs in business, economics, computing, engineering, technology, environmental science and the humanities. Due to its academic excellence, Michigan is rated among the top colleges by U.S. News and World report.
Michigan Tech Financial Aid
Michigan University is aware that educational costs are a major concern for most students. Therefore, the MTU financial aid office offers a range of assistance programs that students may apply for. Students should know their financial need before applying for assistance, as financial need is the difference between Cost of Attendance (COA) and Expected Family Contribution (EFC).
Students who wish to apply for Michigan Tech Financial Aid must first fill out the Free Application for Federal Student Aid (FAFSA) which can be found online at fafsa.ed.gov.
Michigan Tech Financial Aid Packages
The university has a wide range of scholarships which don’t need to be paid back. There is no special application process for most merit-based scholarships except for Michigan Tech Leading Scholarship award and career interest scholarships. Deserving students are eligible for grant programs which do not have to be repaid, either. Some of these programs include the Federal Pell Grant, the Federal Iraq and Afghanistan Service Grant, FSEOG and the University Student Award.
MTU financial aid also conducts federal and private loan programs so that student may finance their education with low interest rates. Students may be eligible for Federal Direct loans, Federal Perkins loans, TechAid Loans and Federal PLUS loans. Students may also earn money through employment, as they can find work through the federal work-study program or through university-funded student employment.
Private Loans and Michigan Tech
If you do not qualify for assistance programs, there is always the option of applying for private loans. These loans provide funds to students when there are no other options left. There are numerous private lenders out there and you can use the Comparison Tool at our website to make the best decision, as our tool is simple, easy to use and free!
Frequently Asked Questions
Q:Can you tell me about student employment opportunities at Michigan Tech?
A:The financial aid office grants the federal work-study program to eligible students. Students generally work eight hours per week and are paid an hourly rate that is at least equivalent to minimum wage. Approximately 2,000 to 5,000 students find employment on campus every year.
Q:What different types of MTU financial aid are available?
A:There are a number of MTU financial aid programs available, as you may opt for aid options that best suit your financial need. You may apply for loans such as the Stafford Loan and the Perkins Loan, which come with low interest rates. There are also a number of institutional and federal scholarships available. These programs each have different eligibility criteria and may be applied for via the FAFSA. Furthermore, grants and employment programs are popular features of MTU financial aid.
Q:What kind of Michigan Technological University financial aid loans can I apply for?
A:There are a number of loans offered by the Michigan Technological University. The most popular ones include federal loans such as the federal Perkins Loan, the federal Stafford Loan (subsidized and unsubsidized), the Parent PLUS Loan, and the GradPLUS Loan. These loans are geared toward providing students with easy finance options for their education costs. Low interest rates and easy repayment options make these loans popular.
Pay for Michigan Technological University*
|Total Avg. Cost||$36,629|
|Room & Board||$8,462|
|Financial Aid Information|
|Students Receiving Fin Aid||97%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$6,877|
|%Receiving Other Loans||11%|
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*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics