Financial Issues
Tuition and fees (2010-2011) for Master's International graduate students at Michigan Tech who have been "nominated" by the Peace Corps is $431 per credit. Students need to take at least 23 credits before leaving for their assignment. This is a savings of $194 per credit. Students DO NOT pay tuition and fees for credits earned during Peace Corps training and service overseas (up to 7 credits of the 30 credit MS degree).
The area around Michigan Tech is considered to have a relatively low student cost of living. The Michigan Tech Graduate School web page has links to available on- and off-campus housing (see http://www.mtu.edu/grad/).
There are research assistantships specifically for MI students from research grants. Applicants are considered based on their qualifications and interests for research assistantships. Because of the structure of federal financial aid, many students are eligible for and receive federal work-study funding. In addition, when available we try to match MI students with other funding on campus. Students in current MI and Fellows programs have worked on funded research projects, received graduate teaching and research assistantships, MacIntire-Stennis funding, NSF mentoring funding, and NSF K-12 funding. These latter examples are not routine funding sources but do show the efforts program coordinators have made to obtain funding for students. All of these funding sources are subject to variations based on timing of applications and funding approvals so you must check about availability and eligability individually, as soon as you are accepted into the program.
During your volunteer training and service, Peace Corps will provide you with a monthly allowance for housing, food, clothing, and incidentals; free medical and dental care; transportation to and from your overseas site; and 24 vacation days per year. Many student loans are deferrable during Peace Corps service, and you may be able to cancel a portion of a Perkins Loans you hold. Post-service benefits include a $6,075 adjustment allowance after successful completion of your 12 weeks of training and two years of volunteer service. Students can learn more about the specifics of Peace Corps financial commitment to volunteers by checking their web page (http://www.peacecorps.gov/).
