Non-Resident Undergraduate Sample

Gift aid is money you do not have to pay back. It usually comes in the form of scholarships and grants. Generally, students must maintain a minimum 2.5 GPA to have their merit-based scholarships renewed. Students receiving need-based grants must complete the FAFSA annually to have any grants renewed. Note: first-year students receiving a National Scholars Program, Presidential Scholars Program, or Leading Scholars Program award are required to live in University housing for the first two academic years (four academic semesters, not including summers). 

The Distinguished Leader Award is one of the scholarships offered through Michigan Tech’s Leading Scholar Program. Incoming first-year undergraduate students apply for scholarships through this program by submitting an application and essay by November 1 of their senior year in high school. Scholarships awarded through the Leading Scholar Program are renewable for up to four years (eight semesters) for students who meet the renewal criteria.

The University Student Aid Grant (USA) is awarded annually and is based on financial need. Continued receipt of the USA in future academic years is contingent upon completion of the FAFSA and an SAI that is less than or equal to your initial SAI as a first-year or transfer student. Students must also maintain a minimum 2.0 GPA.  If you receive additional scholarships or grants, the USA will be reduced accordingly.

Many students earn scholarships from non-Michigan Tech sources-such as their high school, local foundations, or companies-that can be applied towards their cost of attendance at the school they choose to attend. If you are awarded scholarships from non-Michigan Tech sources, you must notify the Financial Aid Office by following the steps below.  Once entered, your scholarship(s) will take 2-3 business days to appear under the 2024-2025 Outside Resources section.

1. Log on to your Financial Aid Summary page using your ISO username and password.
2. Scroll down to the 2024-2025 Outside Resources section.
3. Click "Add Outside Resources" and follow the prompts to access Banweb.
4. Once you have navigated to Resources/Additional Information in Banweb, enter all scholarships you have earned and click "Submit Information." Be sure to enter scholarship information for each semester.
5. Return to your Financial Aid Summary page and select Refresh from the pop-up box.

Repeat this process as you are notified of additional non-Michigan Tech awards.

Your cost of attendance is based on a plateau tuition structure. This means your tuition is one flat rate regardless of the number of credits you take (between 12 and 18). A minimum of 12 billable credits (excluding audited credits) are required to be considered a full-time student. Some courses don’t have fees and are not considered billable, and therefore don’t contribute to your credits. The COA on your financial aid award letter is currently an estimate; final tuition, fees, and room-and-board rates will be determined in July. Room-and-board rates vary depending on your residence hall assignment and meal plan. The COA includes all required University fees; however, lab and course fees vary by major. 

The tuition and fees included are based on full-time lower-division tuition. Students who have earned 60 or more credits (including transfer credit; credit earned through early college or dual enrollment; or AP, IB, or CLEP) will be charged upper-division tuition. Our cost of attendance page allows you to view upper-division tuition rates based on your specific major.

Student loans include the Federal Direct Loans (both Subsidized and Unsubsidized). Your eligibility for these student loans is determined by your FAFSA results. These loans carry an interest rate based on the 10-year Treasury rate. 

The Federal Direct Subsidized Loan is a need-based loan. The federal government does not charge interest on this loan while the student is enrolled at least half-time (6 billable credits).

The Federal Direct Unsubsidized Loan is not need-based. You must either pay the interest that accrues while enrolled or choose to defer payments and have the interest capitalized (must be enrolled in a minimum of 6 billable credits).

Once you have decided to accept your loan(s), there are four steps that must be completed. To decline your loan, simply complete the first step.

STEP ONE - Accept (or decline) your loan by logging on to your Financial Aid Summary page, and navigating to the 2024-2025 Current Financial Aid section. Click "View/Accept Awards" and follow the prompts to access Banweb.

STEP TWO - Once you have accepted the Direct Loan, you will be prompted to complete the Direct Loan Request Form.

STEP THREE - First-time borrowers must complete entrance counseling before funds can be disbursed. Complete your counseling by logging in with your FSA ID (the one used for the FAFSA) at studentaid.gov and clicking on Complete Entrance Counseling located under the Complete Aid Process tab. The counseling session will take about 30 minutes to complete. This is a one-time requirement and will not need to be completed in following aid years.

STEP FOUR - First-time borrowers are required to complete a Master Promissory Note (MPN). You will be notified via email when your MPN is ready. You will need your FSA ID (the one used for the FAFSA) to complete the MPN. You will be asked to provide your permanent address, telephone number, driver’s license number (if you have one), and email address. You will also need the names, addresses, and telephone numbers of two personal references who have known you for at least three years. References must have different addresses from one another, and one of the references should be a parent or legal guardian. The references have no obligation to the loan and are only contacted if your contact information is not current.

The books and supplies figure in your cost of attendance is an average. It is possible to use your financial aid to help pay for your books; financial aid will be applied to tuition, fees, and any room and board charges first. Students who do not have excess aid may still purchase books at the Campus Bookstore and may charge those books and supplies to their student accounts (up to $1,500) once their enrollment has been confirmed. The student will be billed at a later date for any excess charges.

The Federal Direct Loan Program has a loan origination fee. If you choose to borrow from this program, the federal servicing center will deduct this fee from the loan disbursements. The fee value included in the cost of attendance is an estimate derived from last year’s undergraduate borrowers.

If you have been awarded work-study, you will be contacted about employment opportunities during the summer. Work-study does not appear as a credit on the semester bill; you will receive a paycheck every two weeks for the hours worked. If you have not been awarded work-study, but are interested in employment on campus, you may begin your employment search on our Employment Site.