FY23 Budget Updates

Michigan Department of Treasury sent this bulletin at 07/14/2022 05:00 PM EDT

On Thursday July 14, 2022, Governor Whitmer signed the Fiscal Year 2023 (FY23) budget (Public Act No. 144 of 2022) which funds Student Scholarships, Grants and Outreach (SSGO) programs for Academic Year 2022-23. All programs received appropriations, which allow them to remain funded. Below you will find details on Academic Year 2022-23 State financial aid program updates.

FY23 Budget Updates

Existing Programs

Children of Veterans Tuition Grant (CVTG)

  • No program changes.
  • $2,800 annual maximum award.

Fostering Futures Scholarship (FFS)

  • No program changes.
  • $3,000 annual maximum award.

Michigan Competitive Scholarship (MCS)

  • $1,500 annual maximum award.

Michigan Tuition Grant (MTG)

  • $3,000 annual maximum award.
  • $5 million annual maximum for private or independent degree-granting, non-profit institutions.

Police Officer’s and Fire Fighter’s Survivor Tuition Grant (STG)

  • No program changes.

Tuition Incentive Program (TIP)

  • 30 credit annual maximum has been removed. All other limits and requirements remain the same.

Note: Information regarding Futures for Frontliners and Michigan Reconnect will be shared when available.

New Programs

SSGO is excited to announce additional programs that will be administered by Treasury beginning in Academic Year 2022-23.

  • MI Future Educator Fellowship
    • A program to incentivize undergraduate students to pursue education as a career path by clearing obstacles of cost and loan indebtedness.
  • MI Future Educator Student Teacher Stipend
    • A program to financially support student teachers who are in an unpaid student teaching position.
  • Grow-Your-Own
    • A program for school districts to provide assistance to support staff on a path to become educators.

Additional program details will be shared as soon as they are available.

2022-23 Program Fact Sheets

Fact Sheets for SSGO programs are updated for the new academic year:

Children of Veterans Tuition Grant

Fostering Futures Scholarship

Michigan Competitive Scholarship

Michigan Tuition Grant

Police Officer's and Fire Fighter's Survivor Tuition Grant

Tuition Incentive Program

State Programs Procedures Manual

Updates to the State Programs Procedure Manual will be coming soon.