UM-Dearborn sets aside $300,000 to help students and potential students affected by economic downturn
March 17, 2009
DEARBORN---The University of Michigan-Dearborn has set aside $300,000 “to address the needs of our students whose families may have experienced job losses or other problems as a result of the current economic conditions,” according to Chancellor Daniel Little.
“We recognize that this is a difficult time in our economy and are offering options to address families' declining financial resources,” Little said. “We are working to reduce the gap between family resources and the costs of going to college. Providing additional resources at this point might help our students complete their degrees on time, and not drop out because of changes in their financial situation.”
The $300,000 special emergency fund will be distributed through the campus’s Office of Financial Aid on the basis of need. Campus officials estimate that several hundred current students and students expected to enroll this fall may be eligible for the additional help.
UM-Dearborn is taking numerous additional steps to help needy students and their families, including providing more financial-aid counseling and distributing information about federal, state and institutional aid to students and their families.
“In this environment, we are really working to get the word out to students and their families that college is affordable,” according to Stanley E. Henderson, vice chancellor for enrollment management and student life at UM-Dearborn.
Institutional financial aid expenditures at UM-Dearborn have grown 111 percent in the past five years, much faster than tuition increases.
“Many families are unfamiliar with the resources that are available, and we understand how challenging it is to navigate the system, which is why we are offering more help and more advice,” Henderson said. “Now more than ever, a college education is the key to prosperity, and we want to help our students and their parents achieve their goals.”
CONTACT: Terry Gallagher
Room 1040, Administration Building
University of Michigan-Dearborn