Heat a medium sauce pan on medium heat and add milk. Once milk begins to get warm, add cheese, paprika, chili powder, garlic powder, and corn starch. Whisk or stir until thick and creamy (around 5 minutes or less). Serve with baked chips, or with your favorite Mexican dishes!
If you want the dip to last throughout a party and stay warm, try putting it into a crockpot turned to "stay warm" setting. Likewise, to make the dip ahead of time and reheat it, simply place dip in small pot and warm over medium low heat. Stir in 1/4-1/2 cup extra milk to get creamy texture and help re-melt cheese to your liking.