Michigan Gov. Gretchen Whitmer (D) signed bipartisan legislation for a $250 million state-funded scholarship program, one of the state’s most significant investments in financial aid in decades.
Whitmer established the Michigan Achievement Scholarship on Tuesday at Lawrence Technological University in Southfield, according to Michigan Advance.
The scholarship will provide up to $5,500 to students enrolled at the state’s four-year public colleges and universities. In addition, up to $2,750 may be distributed to community college students and $4,000 to those at a private institution.
Students will be eligible if their family demonstrates financial need when they complete the Free Application for Federal Student Aid. To qualify, students must have an expected family contribution of less than $25,000, Forbes reports.
The scholarship is expected to cover 94 percent of students attending community colleges, 76 percent of students attending a public university, and 79 percent of students attending a private college or university, according to the Detroit Regional Chamber.
“These scholarships will build on the success of the Michigan Reconnect program and save the vast majority of high school graduates thousands of dollars a year as they pursue higher education at community college, private college, or a public university,” Whitmer said during the bill’s signing.
The scholarship program builds on Whitmer’s goal to have at least 60 percent of adults obtain a skill certificate or college degree by 2030.