Ferris says it will make up $1.15M state aid gap
BIG RAPIDS, MI – Ferris State University says it will make up $1.15 million its students lost this fall with the state's failure to renew the Michigan Promise Grant.
University President David Eisler said Monday the aid goes to 1,312 Ferris students who'd expected to get the Michigan Promise Grant. That's 10.4% of Ferris undergraduates.
The Big Rapids school says it will cover the cost for the fall semester.
In addition, Ferris says it will cover the 50% cut in the Michigan Competitive Scholarship. That affects 616 students, or 4.9% of undergraduates.
Eisler says a one-time $1.3 million federal stimulus grant will pay for the aid.
Ferris says its financial aid requests rose 13.4% this school year.