What is Inside a Normal Financial Aid Package at U-M
University of Michigan - Ann Arbor's average financial aid package for new freshmen is $27,033. About 52.0% of new students receive some kind of financial aid, most of which is scholarships and grants.
Student loans are a part of financial aid offers, even so the only true discount from the expense of college is a scholarship or grant that you don't need to repay.
Student debt really should be thought of as an added expense instead of as "aid" or a "discount". Learn more about student loan debt at U-M.
How Much U-M Aid Will I Get That Won't Put Me in Debt?
The stats following pertain to assistance that is provided by University of Michigan - Ann Arbor.
52.0% of first year students (3,434 total) were awarded scholarships at University of Michigan - Ann Arbor, averaging $17,962 per student. This puts it in the top 20th percentile of all schools in the country.
As well as scholarships, 17.0% of freshmen (1,151 total) received federal grant aid, averaging $5,521 a person.
Check out the usual amount of grants and scholarships first years receive by looking at the chart below.
Scholarships are awarded based on merit or special ability, while grants are need based.
Financial Aid per Family Income
The below chart demonstrates scholarship and grant allocations by income for freshmen receiving any form of federal Title IV assistance, including Federal PLUS loans.
|Income Level||Percent of Freshman||Average Assistance|
|Income 110k +||8.9%||$4,130|
Title IV aid includes loans, grants, or work-study given by the federal government generally according to financial need. Learn more here.
The Standard Undergraduate Who Gets a Grant or Scholarship Obtains $21,174
15,657 U-M undergrads obtain grants (this is about 52.0% of the entire student population). The usual amount these students obtain is $21,174
Financial Aid Links from University of Michigan - Ann Arbor
|Financial Aid Department Website||https://finaid.umich.edu|
|Net Price Calculator||https://npc.collegeboard.org/app/umich|
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