Low-income students face Aug. 31 deadline to apply for free college tuition
Time is running out for eligible individuals from the Class of 2018 who have graduated with a high school diploma or equivalent to claim their Tuition Incentive Program benefits, according to the Michigan Department of Treasury.
The grant program – commonly referred to as TIP – encourages eligible Medicaid recipients to complete high school by providing college tuition assistance. Eligible TIP students have four years from graduation to begin using their TIP benefits.
The application deadline is August 31 for eligible students to apply for TIP, a program administered by the Michigan Department of Treasury’s Student Financial Services Bureau. TIP covers 24 credit hours of tuition per academic year for a total of 80 overall credits at participating Michigan community colleges. TIP covers the in-district tuition rate at 4-year public colleges and universities. Students attending 4-year degree-granting non-publics are eligible for $110 per credit hour in 2018-19.
In addition to tuition assistance, TIP also covers up to $250 in mandatory fees each semester.
To qualify, students must have been on Michigan Medicaid for 24 months within a 36-consecutive month period between age nine and high school graduation.
“Even if eligible high school graduates don’t plan to attend college this fall, we urge them to certify their application as soon as possible,” said Carla Foltyn, Director of Student Scholarships and Grants. “Once their eligibility is confirmed, they have four years to begin using TIP, but the window for applying for this benefit will close on August 31.”
Students may complete the TIP application in the MiSSG Student Portal at www.michigan.gov/ missg or by calling 888-447-2687.
TIP can also assist students who go on to four-year colleges or universities. After they earn at least a one-year certificate, an associate degree or 56 transferable credits, students are eligible to receive up to $500 per semester or $400 per term at participating four-year institutions in Michigan.
TIP is just one service offered by the Student Financial Services Bureau, which encourages students to pursue postsecondary education by providing equality of access to student financial resources and information.
To learn more about TIP or to claim TIP benefits, got to www. michigan.gov/mistudentaid or contact MI Student Aid at mistudentaid@michigan.gov or 1-888-447-2687.
Treasury: All ages eligible to open MiABLE accounts
With August as #AbleToSave Month, the Michigan Department of Treasury reminds disabled individuals of all ages and their families that they may be eligible to open a special investment savings account with state tax benefits.
The Michigan Achieving a Better Life Experience—commonly called MiABLE—is a 529(A)-savings account program administered by the state Treasury Department for those who wish to save for individuals with disabilities. Accounts may be opened by individuals who were disabled before they were 26 years old.
“If you were disabled before your 26th birthday and already receive Social Security benefits, then you are automatically eligible to receive a MiABLE account,” said acting Deputy State Treasurer Anne Wohlfert, head of Treasury’s State and Local Finance Group. “There is a common misconception that these accounts are for younger people. You can be older than 26 years old to open an account, but you must have been disabled before your 26th birthday.”
Individuals who do not receive Social Security benefits, but still meet the age of onset disability requirement, could still be eligible to open a MiABLE account if they meet Social Security’s definition and criteria regarding significant functional limitations and receive a letter of certification from a licensed physician.
Unlike traditional savings accounts, MiABLE savings are not considered when applying for other federal or state benefits, like Social Security Disability Income, Medicaid and Supplemental Nutritional Assistance Program. MiABLE accounts also allow for savings up to $100,000 without losing other financial disability benefits.
Funds from a MiABLE account are not taxed if used for qualified disability expenses, which include: education, housing, transportation, employment training and support, assistive technology and personal support services, legal fee expenses for oversight and monitoring and end of life expenses.
For more details or to register an account, visit www.miable.org or call 844-656-7225.
