MSOE offers both merit-based and need-based financial assistance to undergraduate applicants. Need-based aid (grants and subsidized loans) is based on demonstrated financial need as determined by the Free Application for Federal Student Aid (FAFSA). Scholarships are based on academic performance and/or co-curricular involvement. Therefore, the amount of grants and scholarships offered varies from student to student.

Students are encouraged to submit the FAFSA annually to apply for need-based aid.