College Factual  by our College Data Analytics Team
       Unbiased Factual Guarantee

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 2020 - 2021 Varied Between $5,448 & $69,633

Worried about paying the full cost of $69,633 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 68.7% 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.

Cost for Residents of Michigan (no aid)

Tuition and fees$16,948
+ Room and board$12,034
+ Other expenses$3,502
Total cost$32,484
Affordability Score (35 out of 100)
more expensive
less expensive

Net Price for Residents of Michigan (with average aid)

Total cost$32,484
- Grants and scholarships$19,728
Net price$12,756
Affordability Score (79 out of 100)
more expensive
less expensive

Average Net Price for Low Income Residents of Michigan

Total cost$32,484
- Grants and scholarships$27,036
Net price$5,448
Affordability Score (97 out of 100)
more expensive
less expensive

Cost for Non-Residents (no aid)

Tuition and fees$54,097
+ Room and board$12,034
+ Other expenses$3,502
Total cost$69,633
Affordability Score (4 out of 100)
more expensive
less expensive

Net Price for Non-Residents (with average aid)

Total cost$69,633
- Grants and scholarships$19,728
Net price$49,905
Affordability Score (1 out of 100)
more expensive
less expensive

Average Net Price for Low Income Non-Resident Undergraduates

Total cost$69,633
- Grants and scholarships$27,036
Net price$42,597
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 $17,425 and $441,814 For a Four Year Degree. Between $9,275 and $212,226 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 2020 - 2021 was $32,484. To calculate future costs, we looked at the prior five years of data and determined that this cost increased an average of 2.6% each year.

If this trend continues, we expect the full cost for incoming freshmen to be $34,208 during their first year. By their senior year, that cost will be approximately $36,968, for a bachelor degree candidate ($35,105 for an associate degree candidate) for a total of $142,306 over the course of four years ($69,313 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 $319,932 based on a yearly growth rate of 4.0%. The expected two-year cost is $153,680.

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

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%2.6%
Freshman year$4,787$12,361$34,208
Senior year$4,488$12,168$35,105
Total 2-year net price$9,275$24,529$69,313
10-year loan interest @ 6.8%$3,533$9,345$26,406
Total monthly payment$107$282$798
Total amount paid$12,808$33,874$95,719
Projected 4-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*-1.6%2.6%
Freshman year$4,787$12,361$34,208
Senior year$3,943$11,792$36,968
Total 4-year net price$17,425$48,299$142,306
10-year loan interest @ 6.8%$6,638$18,400$54,213
Total monthly payment$201$556$1,638
Total amount paid$24,063$66,700$196,519

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*2.3%4.0%
Freshman year$44,492$52,258$75,330
Senior year$45,471$53,475$78,350
Total 2-year net price$89,963$105,733$153,680
10-year loan interest @ 6.8%$34,272$40,280$58,546
Total monthly payment$1,035$1,217$1,769
Total amount paid$124,235$146,013$212,226
Projected 4-Year Net CostsLow Income w/ Aidw/ Average AidNo Aid
Annual growth rate*2.3%4.0%
Freshman year$44,492$52,258$75,330
Senior year$47,493$55,996$84,760
Total 4-year net price$183,927$216,450$319,932
10-year loan interest @ 6.8%$70,069$82,460$121,882
Total monthly payment$2,117$2,491$3,682
Total amount paid$253,996$298,910$441,814

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

Further Questions to Consider

Continue Your Research on U-M

Popular Reports

College Rankings
Best by Location
Degree Guides by Major
Graduate Programs

Compare Your School Options