by our College Data Analytics TeamA large number of students will not be asked to pay the complete price tag of a school. Rather, they are presented a financial aid deal that includes a mix of loans, grants, scholarships, and possibly work-study opportunities. The price tag of going to University of Michigan-Ann Arbor can appear tremendous, but do not forget that almost all students obtain some kind of financial help.
What financial aid options can U-M offer, and what will you qualify for? Keep reading for more information. Keep reading to discover what amount of financial assistance could be accessible to you.
Your financial aid package, which may contain grants and scholarships, will be determined on your financial need. The figures below will help you estimate the aid you might receive from University of Michigan-Ann Arbor.
Aid such as grants, loans, work-study, and scholarships helps colleges decrease the real cost of attendance for most students. Keep in mind that certain forms of assistance are more beneficial than others, and aid amounts differ from student to student.
For freshmen starting at University of Michigan-Ann Arbor, 69% of first-year full-time students received aid of some kind approximately 5115 incoming students).
| Type of Aid | % of Freshmen Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 59% | $25,099 |
| Institutional grants & scholarships | 58% | $21,722 |
| Federal Pell grants | 20% | $6,207 |
| State/local grants | 19% | $4,315 |
| Federal student loans | 23% | $5,291 |
Grants and scholarships are the most valuable form of aid because, unlike loans, they never have to be repaid. At U-M, around 54% of undergraduates were awarded grant or scholarship aid averaging $25,050 (among about 18336 undergraduates).
| Award | % of Undergrads Receiving | Average Amount |
|---|---|---|
| Grant or scholarship aid (all sources) | 54% | $25,050 |
| Federal Pell grants | 18% | $5,997 |
| Federal student loans | 24% | $6,114 |
Title-IV recipients living on campus saw average grant aid of $21,516.
Because need-based aid scales with family income, what students actually pay differs sharply across income brackets.
| Family Income | Average Net Price |
|---|---|
| $0 – $48,000 | $5,115 |
| $30,001 – $75,000 | $7,240 |
| Over $75,000 | $23,680 |
Each figure is the net price after grants and scholarships, not the published sticker price.
The net price strips out grant and scholarship aid from the sticker price to show roughly what families really pay.
| Cohort | Average Net Price |
|---|---|
| On-campus title-IV students | $13,138 |
| Off-campus title-IV students | $14,832 |
For a personalized estimate based on your family’s financial situation, use U-M’s online cost calculator: npc.collegeboard.org/app/umich.
A typical borrower at U-M leaves with $17,625 of federal student loans.
| Metric | Amount |
|---|---|
| Median federal debt (all student-aid borrowers) | $17,625 |
| Median federal debt (graduates only) | $19,500 |
| Typical 10-year monthly payment (graduates) | $206.73/mo |
That monthly figure reflects the median graduate debt repaid on a standard 10-year federal schedule.
A single median figure conceals how much debt outcomes differ student to student. The four reference points below map the debt distribution at U-M.
| Percentile | Cumulative Federal Debt |
|---|---|
| 10th percentile (lowest-debt students) | $4,700 |
| 25th percentile | $9,530 |
| 75th percentile | $25,700 |
| 90th percentile (highest-debt students) | $31,276 |
Median debt varies by family income, by first-generation status, and by dependency status.
By Family Income
| Income tier | Median federal debt |
|---|---|
| Low income | $12,042 |
| Middle income | $16,000 |
| High income | $19,500 |
By First-Generation Status
| Cohort | Median federal debt |
|---|---|
| First-generation students | $15,500 |
| Continuing-generation students | $18,646 |
By Dependency Status
| Cohort | Median federal debt |
|---|---|
| Dependent students | $18,000 |
| Independent students | $11,120 |
The Department of Education computes summary indicators that describe debt outcomes at a glance. U-M.
Stafford loans make up the bulk of federal direct lending to undergraduates. The aggregate figures below show how active the program is at U-M:
| Metric | Value |
|---|---|
| Stafford loan recipients | 70989 |
| Total Stafford loan amount | $2,106,655,512 |
GI Bill and DoD Tuition Assistance are the two federal aid programs targeted at military-affiliated students.
Post-9/11 GI Bill recipients
| Metric | Value |
|---|---|
| GI Bill recipients | 447 |
| Total GI Bill amount | $13,120,562 |
| Average GI Bill amount per recipient | $29,352 |
DoD program volume
| Metric | Value |
|---|---|
| DoD Tuition Assistance recipients | 26 |
| Total DoD amount | $70,300 |
| Average DoD amount per recipient | $2,704 |
References
More about our data sources and methodologies.