FY25 Sec. 248(10) Report - Submitted for FY2024-2025
| FY22-23 | FY23-24 | |
|---|---|---|
| Total Institutional Grant Aid for Full-Time First-Time Undergraduates | $65,043,914 | $55,276,677 |
| First-Time Full-Time Undergraduates Student Cohort | 9,245 | 8,080 |
| Average Institutional Grant Aid for Full-Time First-Time Undergraduates | $7,036 | $6,841 |
Describe any major changes to institutional grant aid in academic year 2023-2024.
For the 2023-24 school year, Michigan State University made the decision to reduce the maximum institutional award amount for merit-based gift (non-need-based) aid to our non-resident students. This includes both domestic and international non-resident FTIACs (First Time in Any College). We also made the eligibility criteria a bit more rigorous. This more rigorous criteria resulted in fewer FTFT MSU students being eligible for institutional gift aid for 2023-24 and the average award amount for 2023-24 being slightly less when compared to the 2022-23 award year. During the same time, MSU increased the maximum award amount for the 2023-24 aid year for our need-based financial aid programs.
Describe any major changes to institutional finances that impacted your institutional grant aid in academic year 2023-2024.
Not applicable. See changes described in question 11.
Describe any major changes to your student population that impacted institutional grant aid in academic year 2023-2024.
Not applicable. See changes described in question 11.