Search Colleges


  1. Sponsored Schools
College Factual Homepage
  • Loading progress spinner
  • Sign In
  • Sign Up
  • Decision Dashboard
  • Match Profile
  • Colleges
  • Majors
  • Rankings
  • Loading progress spinner
  • Sign In
  • Sign Up
  • Decision Dashboard
  • Match Profile
  • Sign Out
  • Colleges
  • Majors
  • Rankings
  • University of Michigan - Ann Arbor/
  • Paying
University of Michigan - Ann Arbor
Ann Arbor, Michigan
credit
  • Overview
  • Rankings
  • Applying
  • Academics
  • Student Life
  • Paying
  • Outcomes
  • Tuition And Fees
  • Room And Board
  • Financial Aid
  • Net Price
  • G.I. Bill®
  • Value
  • Paying
  • Tuition And Fees
  • Room And Board
  • Financial Aid
  • Net Price
  • G.I. Bill®
  • Value
  • Overview
  • Rankings
  • Applying
  • Academics
  • Student Life
  • Outcomes

Can You Afford University of Michigan - Ann Arbor?

Concerned about paying for college? Take a look at U-M's financial aid options, including grants, scholarships, and student loans, then calculate the net price based on your income level to determine if you can afford to attend this school.

Attendance Costs in 2019 - 2020 Varied Between $5,002 & $68,495

Worried about paying the full cost of $68,495 to attend University of Michigan - Ann Arbor? That number can be deceiving, as the net amount most students will pay varies significantly.

For students living in Michigan, the university offers a discount of 68.8% off tuition and fees. Also, 52.4% of freshmen receive some form of financial aid, with the average amount totaling $19,728. Students from low-income families receive an average of $27,036 in aid during their first year.

  • Michigan Residents
  • Out-Of-State Residents

Cost for Residents of Michigan (no aid)

Tuition and fees$16,540
+ Room and board$11,996
+ Other expenses$3,502
Total cost$32,038
Affordability Score (35 out of 100)
more expensive
less expensive

Net Price for Residents of Michigan (with average aid)

Total cost$32,038
- Grants and scholarships$19,728
Net price$12,310
Affordability Score (80 out of 100)
more expensive
less expensive

Average Net Price for Low Income Residents of Michigan

Total cost$32,038
- Grants and scholarships$27,036
Net price$5,002
Affordability Score (98 out of 100)
more expensive
less expensive

Cost for Non-Residents (no aid)

Tuition and fees$52,997
+ Room and board$11,996
+ Other expenses$3,502
Total cost$68,495
Affordability Score (4 out of 100)
more expensive
less expensive

Net Price for Non-Residents (with average aid)

Total cost$68,495
- Grants and scholarships$19,728
Net price$48,767
Affordability Score (1 out of 100)
more expensive
less expensive

Average Net Price for Low Income Non-Resident Undergraduates

Total cost$68,495
- Grants and scholarships$27,036
Net price$41,459
Affordability Score (1 out of 100)
more expensive
less expensive

Learn more about tuition and fees, room, board and other expenses, and financial aid options at U-M.

Projected Costs Between $15,998 and $434,594 For a Four Year Degree. Between $8,516 and $208,758 For a Two Year Degree.

It can be a bit scary to look at the total projected cost of a college education over the course of a multi-year degree, however, doing so will help you better understand the financial commitment you are making.

The overall cost for on-campus, in-state students to attend University of Michigan - Ann Arbor in 2019 - 2020 was $32,038. To calculate future costs, we looked at the prior five years of data and determined that this cost increased an average of 3.1% each year.

If this trend continues, we expect the full cost for incoming freshmen to be $34,029 during their first year. By their senior year, that cost will be approximately $37,249, for a bachelor degree candidate ($35,070 for an associate degree candidate) for a total of $142,491 over the course of four years ($69,099 over the course of two years). These numbers do not take into consideration financial aid, which reduces this overall cost by varying amounts per student.

The cost for out-of-state students is more, with an overall expected four-year cost of $314,703 based on a yearly growth rate of 4.0%. The expected two-year cost is $151,168.

Remember, the full costs quoted above are not what most students will pay, and the net price varies quite a bit based on individual circumstances.

Average Net Price at University of Michigan - Ann Arbor
  • Michigan Residents
  • Out-Of-State Residents

Cost With Interest for Residents of Michigan

The tables below outlines how the overall degree net cost can vary depending on your situation. This table also highlights the impact student loans can have on the overall cost of college.

Projected 2-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*-1.6%3.1%
Freshman year$4,395$11,929$34,029
Senior year$4,120$11,743$35,070
Total 2-year net price$8,516$23,672$69,099
10-year loan interest @ 6.8%$3,244$9,018$26,324
Total monthly payment$98$272$795
Total amount paid$11,760$32,690$95,423
Projected 4-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*-1.6%3.1%
Freshman year$4,395$11,929$34,029
Senior year$3,620$11,379$37,249
Total 4-year net price$15,998$46,611$142,491
10-year loan interest @ 6.8%$6,095$17,757$54,284
Total monthly payment$184$536$1,640
Total amount paid$22,093$64,368$196,775

Cost With Interest for Out-Of-State Residents

The tables below outlines how the overall degree net cost can vary depending on your situation. This table also highlights the impact student loans can have on the overall cost of college.

Projected 2-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*2.6%4.0%
Freshman year$43,303$51,386$74,098
Senior year$44,256$52,748$77,070
Total 2-year net price$87,559$104,134$151,168
10-year loan interest @ 6.8%$33,357$39,671$57,590
Total monthly payment$1,008$1,198$1,740
Total amount paid$120,916$143,805$208,758
Projected 4-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*2.6%4.0%
Freshman year$43,303$51,386$74,098
Senior year$46,225$55,580$83,375
Total 4-year net price$179,013$213,859$314,703
10-year loan interest @ 6.8%$68,197$81,472$119,890
Total monthly payment$2,060$2,461$3,622
Total amount paid$247,211$295,332$434,594

Visit net price and financial aid to learn more about the total cost of attending University of Michigan - Ann Arbor.

Further Questions to Consider

  • Do you know your deadlines?

    Meeting application deadlines for both the college and the FAFSA is crucial to getting financial aid.

  • When can you expect to begin receiving bills from the college?
  • Is there an option to make payments in monthly installments?
Request Info

Continue Your Research on U-M

‹ Back to Veterans
Continue to Tuition And Fees ›

Featured Schools

Southern New Hampshire University Logo Request Info Southern New Hampshire University

You have goals. Southern New Hampshire University can help you get there. Whether you need a bachelor's degree to get into a career or want a master's degree to move up in your current career, SNHU has an online program for you. Find your degree from over 200 online programs ... Learn more >

Search Colleges


  1. Sponsored Schools

Additional College Factual Financial Resources

Company

  • About Us
  • Our Team
  • Data
  • Press Room
  • Contact Us

Get Started

  • Students
  • Parents
  • Advisors
  • Educators
  • Veterans

Tools

  • Majors Matcher
  • College Matcher
  • College Combat ®
  • Cost Cutter
  • GI Bill® Maximizer

Resources

  • College Rankings
  • College Profiles
  • Major Profiles
  • Inside CF Blog
  • Feedback & Support

Follow

  • Twitter
  • Pinterest
  • Facebook
  • LinkedIn
  • Google+
Privacy Policy | Terms of Use
© All Rights Reserved. College Factual ® is a registered trademark of Media Factual