The cost of an education: GVSU committed to providing value, reducing student loan debt

Students at Grand Valley State University received $24.8 million in funding from the Michigan Achievement Scholarship, the second-highest amount awarded to students who attend one of the state's public universities.

The Michigan Department of Lifelong Education, Advancement, and Potential (MiLEAP) administers the fund, noting that 4,830 GVSU students received the Michigan Achievement Scholarship this academic year.

GVSU President Philomena V. Mantella said the Michigan Achievement Scholarship aligns with the university's commitment to increase financial aid to increase access to higher education. In addition to the increase in support from the state, the GVSU Board of Trustees has approved total increases in financial aid of 53% since 2019. The cost of a Grand Valley education is also among the most affordable with tuition fees and the cost of room and board in the bottom quarter of Michigan public universities.

“Expanding access to financial aid underscores our commitment to assuring all students who are ready and hungry for a Grand Valley education have our unparalleled opportunity," Mantella said. "While being among the most affordable options, we also focus on delivering the highest of value. Laker graduates are prepared to lead in the next generation of workforce talent benefiting our organizations and communities in the region, state and beyond."

B. Donta Truss, vice president for Enrollment Development and Educational Outreach, said the wide array of financial aid programs like Grand Valley Pledge , Laker Lane, the Robert and Ellen Thompson Scholars and GVSU Scholarships are examples of how GVSU focuses on reaching students across a variety of income levels.

"These programs are part of a broader strategy to increase the percentage of gift aid awarded to students, which has contributed to the overall decline in borrowing," Truss said. "Each year we review packaging philosophies and analyze data to ensure we award as much need-based aid to students as we can."

The number of GVSU students graduating with loan debt continues to decline. Ten years ago, the figure was 68.7 percent and in 2023-2024 had decreased to 55.6 percent. Nationally, the average debt load for a graduate is more than $30,000; however, GVSU’s average for the 2023-2024 graduating class was lower, at $19,544. 

Michelle Rhodes, associate vice president for Financial Aid, encouraged students to complete the FAFSA and apply for the Michigan Achievement Scholarship early to ensure they benefit from the full array of eligible student aid.

The GVSU Board of Trustees has committed to annually setting tuition rates at its April meeting, which aids families in their planning and decision-making process. GVSU provides an online Cost Calculator that only takes a few minutes to fill out and has several other tools for students: a scholarship matching tool, myScholarships , and an online estimator of how much financial aid a student could receive, this includes federal and state grants. 

“All of these tools are part of GVSU’s deep commitment to an affordable high-value education with no surprises around costs,” said Rhodes.