The university has decided to provide funding for the Mich. Promise Grants and Competitive Scholarships for the fall semester through federal stimulus
Although the state has cut or reduced funding to the Michigan Promise Grant and Michigan Competitive Scholarship programs, Ferris has decided to replace funding for both the programs for the fall semester.
Late last week the Ferris Board of Trustees voted to replace the funding for both programs and plans on using federal economic stimulus funds to cover the awarding of the grants and scholarships for the fall semester.
In a letter to the university President David Eisler said, “The Ferris Board of Trustees and I believe that removing this support late in the semester would constitute an unreasonable financial burden for students who had been awarded these grants.”
He added, “As a University we understand that [students] are relying on this support and have made [their] school budget based on the promise of these funds.”
Freshman Heather Schultz said, “I’m glad that Ferris decided to restore funding for the scholarships, even though it never should have been taken away in the first place.”
The cost of restoring the money for the Promise Grant and the Competitive Scholarship is around $1.15 million for the fall semester. Eisler stated, however, that although the university has decided to restore the funding for the fall, it will not be doing so for the spring semester.
Tricia Sillman, a sophomore in the actuarial sciences program, said, “I think that if Ferris is giving us the money for fall semester, they should restore it for the spring as well.”
“I don’t have a job during the school year because of schoolwork and now I won’t have enough time to come up with the money for the spring,” said Sillman.
Even though the university will not cover spring costs, Eisler said that they will be working with students to refigure financial aid awards where it will be beneficial.