by our College Data Analytics TeamThe majority of college students don’t pay the full price for their education, as financial aid packages, including scholarships, grants, loans, and work-study opportunities, help to offset the costs.
Interested in understanding the financial aid resources available at Michigan State and your eligibility? Find the answers you seek below.
Michigan State University average financial aid offer for freshmen students is $11,850.00. A significant 71% of freshmen benefit from financial aid, with the main type being grants and scholarships.
Loans are included in the umbrella of ‘financial aid’, even so, the only true discount from the cost of college is a grant or scholarship that you don’t have to pay back.
Concerned about the student loans that might be part of your financing deal? Look at the average amount of debt per student at Michigan State University.
Institutional scholarships and grants refer to financial aid provided directly by a college or university to support students in covering their educational expenses. These awards can be either merit-based or need-based and do not require repayment. Merit-based institutional scholarships reward students who have demonstrated exceptional academic achievements, talents, or skills in specific areas. Such scholarships often take into account a student’s high school performance, standardized test scores, or extracurricular activities. On the other hand, need-based institutional grants are allocated to students who exhibit financial need. The amount awarded is usually determined by the student’s family’s financial circumstances and aims to cover the difference between the cost of attendance and the family’s capacity to pay. To assess eligibility for need-based grants, colleges and universities may use information from the Free Application for Federal Student Aid (FAFSA) or other financial aid forms. Institutional scholarships and grants play a crucial role in assisting students, as they can considerably lower the cost of college and make higher education more attainable.
The stats below refer to aid that is provided by Michigan State University.
51% of new students (4395 total) were offered scholarships at Michigan State University, averaging $11,079.00 per person. This puts it the top 25th percentile among colleges and universities nationwide.
As well as scholarships, 30% of freshmen (2565 total) received a federal grant, for about $5,103.00 a person.
The following table shows scholarship and grant allocations by income for first-year students receiving any form of federal Title IV assistance, including Federal PLUS loans.
| Income Level | Percent of Freshman | Average Assistance |
|---|---|---|
| Income 0-30k | 11.13% | $21,699.00 |
| Income 30k-48k | 5.14% | $13,456.00 |
| Income 48k-75k | 5.28% | $8,069.00 |
| Income 75k-110k | 3.74% | $3,329.00 |
| Income 110k + | 3.68% | $1,092.00 |
The table above displays undergrads who are obtaining Title IV aid, federal aid from the government including loans, grants or work-study. Learn more here.
4908 Michigan State undergrads obtain grant aid (this is about 71% of the entire undergraduate student population). The average amount these students receive is $11,850.00.
Check out the Tuition and Fees page or the Cost Per Credit Hour page to find out more.
References
More about our data sources and methodologies.