Student Loans for Michigan State University Students
About Michigan State University
MSU is both historic and enormous. It boasts some pioneering academic programs and elite athletic programs, and the largest study abroad program of any single-campus university in the country. Those are some pretty cool facts, so we’ll elaborate: MSU has the top-ranking nuclear physics program in the country, the Spartans are historically strong on the basketball court and the gridiron, and the university has over 200 programs in more than 60 countries worldwide (including Antarctica, which is crazy). More than 36,000 undergrads attend MSU, which is a crazy number – even crazier is the living alumni base of over 442,000 MSU grads across the globe.
Budgeting while you’re receiving MSU aid can be somewhat tricky. You want to make sure you allocate yourself enough room in your budget to allow room for small, somewhat random personal spending (late night food, weekend supplies, etc.) but you also don’t want to let yourself spend more money than you can afford to. Be sure you leave room in your budget for student tickets to basketball and football games (season tickets for basketball will be about $170, football will be about $140), and a little space for concessions when you’re there.
This can be really simple, even though we know the financial aid application process can seem very daunting. In reality, though, applying for MSU aid can be a breeze. All you really need to do is file the Free Application for Federal Student Aid (FAFSA), and once that’s finished up, you’ll receive your financial aid package with your next tuition bill.
MSU Student Loans
Most every financial aid package will include a healthy blend of scholarships, work-study programs, grants from the university, and student loans, and this is what you’re likely to see in your MSU aid package. The federal student loans that are included in many MSU financial aid packages will be sufficient for most students, but for a chunk of the undergrad population at MSU, the funding through the university’s financial aid program does not fully
cover their financial need. For these students, private student loans are a good way to cover the financial gap between aid received and the total cost of attendance. You don’t want to take out just any private student loan, though, so to ensure that you borrow responsibly, check out our student loan comparison tool on this page to search, compare, and apply for the student loan that’s right for you.
Can you tell me about the academic MSU scholarship programs?
Michigan State University offers a range of scholarship programs. A few of these are awarded on a merit basis. These are called academic scholarships. Some of the criteria used to assess eligibility for academic scholarships include test scores, class rank, GPA, community work, and personal achievement.
Pay for Michigan State University*
|Total Avg. Cost||$20,994|
|Room & Board||$9,575|
|Financial Aid Information|
|Students Receiving Fin Aid||85%|
|Typical Grant Amounts|
|Avg. Other Stud. Loans||$11,431|
|%Receiving Other Loans||6%|
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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