Michigan needs another $400 million in need-based aid to be a "top ten" state
Higher education attainment needs to be a priority for Michigan. Nationally, states with greater numbers of individuals with a college degree or postsecondary credentials have higher incomes, less poverty, and increased economic success.
Expanding access to higher education for all learners regardless of age or ability to pay is essential for Michigan to ensure that more individuals are able to earn a degree.
An essential piece of access to higher education is financial aid. Need-based programs for grants and scholarships make it more likely that a student attend college if they are "on-the-fence" about going.
Michigan currently ranks 40th nationally for need-based student financial aid. It would take another $400 million annually to make Michigan a top ten state increasing degree completions, lowering the debt burden, and raising tax revenue as more individuals would be employed in high-paying jobs.
Michigan Independent Colleges & Universities has collaborated with the Michigan Association for State Universities, the Michigan Community College Association, and the Michigan College Access Network (MCAN) to analyze where Michigan stands on higher education attainment and how to ensure greater success in the future.
To view the report and findings click here.