LSSU tries to take the sting out of Promise grants cut by statePosted: November 6th, 2009CONTACT: Tom Pink, 906-635-2315, tpink@lssu.edu; John Shibley, 635-2314, jshibley@lssu.edu; Bill Eilola, 635-2757, weilola@lssu.edu
SAULT STE. MARIE, Mich. – As the Michigan Legislature continues to attempt to find a way to restore funding to Michigan's Promise Scholarship program, universities and their students have been forced to confront the reality that, at least for now, funding for the program is not going to materialize.
That means students who had been expecting to receive $1,000 from the state as part of their financial aid package ($500 per semester) for the 2009-2010 academic year won't be receiving it this year.
Universities have been reacting to the cut in a number of ways -- from deciding to fully fund the grants from their own budgets, to passing on the entire cost to the students. Lake Superior State University is landing somewhere in the middle. It will be able to fund half of the $500 that students owe for fall semester by awarding them an LSSU Foundation endowed scholarship or need-based LSSU grant of $250.
"Students who were confirmed by the State of Michigan to receive Michigan Promise funds this fall will receive replacement funds of $250 for fall semester directly from LSSU," said Deborah Faust, director of financial aid at LSSU. "Although we cannot replace the full award promised by the State of Michigan, we are analyzing each student's need and providing additional grant money where possible."
Students may pay the remaining $250 in full now or they may extend the payments over three months with a special no-fee payment plan. Students eligible for the extended payment plan are able to sign up for it immediately in LSSU's online bill and payment suite through their Anchor Access account.
So far, no funding is available for the Michigan Promise Scholarship in the spring semester.
Students who are interested in voicing their opinions about the lack of funding are invited to do so through the Michigan Promise website at MichiganPromiseScholarship.com. -LSSU-
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