| FEDERAL PROGRAMS |
| PROGRAM NAME |
DEFINITION |
NEED BASED? |
2005-06 Academic Year Maximum |
Re-Pay |
| Federal Pell Grant (FPELL) |
Gift assistance for students with exceptional
financial need |
Yes |
Up to $4050 |
No |
| Federal Supplemental Educational Opportunity
Grant (FSEOG) |
Gift assistance for students who demonstrate exceptional
financial need. Priority is given to Pell Grant recipients. |
Yes |
$100 - 800 |
No |
| FFEL Stafford Subsidized Loan
(Government pays accruing interest while you are in school) Variable
interest rate capped at 8.25% |
Loans made to students who demonstrate financial
need. |
Yes |
Up to $2625 1st year
$3500
2nd year |
Yes |
| FFEL Stafford Unsubsidized
Loan (Student pays accruing interest while you are in school)
Variable interest rate capped at 8.25% |
Loans made to students regardless of financial
need. |
No |
Up to $2625 1st year
$3500
2nd year |
Yes |
| Plus Loans (For parents
of dependent students). Variable interest rate capped at 9% |
A loan available to parents to pay the educational
expenses of their child. |
No |
Cost of Attendance |
Yes |
| Federal Work-Study
(FWS) |
A work program provided to help students meet
their college expenses. |
Yes |
$2000-5500 |
No |
| STATE PROGRAMS
(Michigan Residents Only) |
| Michigan Education Opportunity Grant (MEOG) |
State grant program based on financial need |
Yes |
$100 - 800 |
No |
| Michigan Competitive Scholarship (MCS) |
A grant offered by the state to students with
need and a composite score of 23 or above on the ACT test. |
Yes |
$100 - 1350 |
No |
| Michigan Adult Part-time Grant (MAPTG) |
Grant Available to independent students taking
3-11 credits |
Yes |
$100 - 600 |
No |
| Michigan Work-Study
(MWS) |
A work program which allows student to earn money
towards expenses |
Yes |
$2000-5500 |
No |
| Michigan Tuition Incentive Program (TIP) |
For students whose families have received Medicaid
from the Family Independence Agency (FIA). Must apply before graduation
from high school ore before receiving GED |
Yes |
Full In-District Tuition and Required Fees |
No |
| Michigan Merit Award (MM) |
A scholarship awarded to students who meet or
exceeds state standards on the Michigan Education Assessment Program
(MEAP) tests and graduate from high school or pass the General Education
Development (GED) test |
No |
$2500 |
No |
| Michigan Education Savings Program (MESP) For
more information call 1-877-861-6377 or visit the web site at
www.misaves.com
|
This program, offered through the Michigan Department
of Treasury, provides families a flexible way to save for their
children's education, at any qualified institution, by offering
a choice of investment options, tax advantages, and low start-up
costs |
No |
Max varies |
No |
| INSTITUTIONAL
PROGRAMS (In-District Residents Only) |
| Trustee Award (TA) |
Grant funds provided by the OCC Board of Trustees
to in-district students without an associate's degree |
Yes |
$100-1000 |
No |
|
Scholarships •
Loans |
| |
