Universities pay for Promise

BIG RAPIDS, Mich. - At least four state universities have announced they will pick up part of the tab for rescinded Michigan Promise Scholarships, according to The Grand Rapids Press.

Ferris State University will use $1.15 million in federal stimulus dollars to cover $500 in tuition assistance that each eligible student would have received from the state this fall, but did not, due to state budget cuts.

Saginaw Valley State University will use $700,000 in non- stimulus dollars to cover Promise costs for about 1,400 students and Michigan State University is using $6 million of its $7.9 million stimulus dollars for about 8,000 students, The Press reported.

Ferris President David Eisler said the college originally planned to use the stimulus money for a $5 per-credit hour rebate for all in-state students, according to The Press.

The University of Michigan will cover Promise funding for 1,662 students who also qualified for other financial aid, though about 4,300 students will have to cover the cost themselves, according to The Press.

At Grand Valley State University, about 7,300 students are absorbing the Promise scholarship loss on their own, as well as decreased funding through the Michigan Competitive Scholarship program, The Press reported.

"This was the state's promise," GVSU spokesman Matt McLogan told The Press. "It was never Grand Valley's promise."

SOURCE:
The Grand Rapids Press, "Ferris State using federal stimulus intended for student rebate to cover Michigan Promise scholarships," Nov. 9, 2009

FURTHER READING:
Mackinac Center for Public Policy, "How to Control College Costs," Dec. 8, 2008