University of Michigan Tuition and Fees

By Jennifer Calonia

The University of Michigan is known for its renowned research centers, like the Michigan Institute for Data Science (MIDAS), and its elite athletics programs as a Big Ten Conference competitor. If you’re considering “going Blue,” here’s what to know about University of Michigan’s cost of attendance, tuition by degree level, acceptance rate, and more.

Total Cost of Attendance

Founded in 1817, the University of Michigan has three campuses with its main campus located in Ann Arbor, Michigan, 45 minutes west of Detroit. It’s a public, four-year research institution with a prestigious standing in collegiate sports, and its business, engineering, and computer science programs are ranked among the highest in the nation.

Financial Aid

Students generally cover University of Michigan’s cost of attendance through a variety of financial aid awards, from grants and scholarships to student loans. During the 2022-23 academic year, 55% of undergraduate students received grant or scholarship aid. A majority of students (54%) received institutional grants or scholarships at an average award amount of $20,048.

Additionally, 18% of first- and full-time undergrads received a federal Pell Grant, which is funding that’s reserved for students who demonstrate exceptional financial need.

Explore financial aid options: Michigan Student Loan & Scholarship Information Guide

Generally, financial aid is monetary assistance awarded to students based on personal need and merit. Students that qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.

The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private companies, and nonprofits. The different types include:

•  Scholarships: These can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, and financial need.

•  Grants: Generally based on financial need, these can come from federal, state, private, and non-profit organizations.

•  Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.

•  Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than those on private loans.

Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The FAFSA can be completed online, but note that state and federal and school deadlines may differ.

You can find other financial aid opportunities at sources such as:

•  U.S. Department of Education – Learn more about the grants that are bestowed by the federal government

•  College Scholarship Service Profile (CSS) – A global college scholarship application used by select institutions to award financial aid

•  Scholarship Search Tool

Recommended: The Differences Between Grants, Scholarships, and Loans

Private Student Loans

At the University of Michigan, five percent of full-time undergraduate Wolverines received private student loans during the 2023-24 year. The average private student loan amount was $26,357.

Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or -affiliated organizations. While federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations, so their qualifications and interest rates can vary widely.

What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans while you are still in school, compared to federal student loans, which you don’t have to start paying back until after you graduate, leave school, or change your enrollment status to less than half-time.

Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for, because it generally has better rates and terms.

If you’ve missed the FAFSA deadline or you’re struggling to pay for school throughout the year, private loans can potentially help you make your payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.

Recommended: A Complete Guide to Private Student Loans

Projected 4-Year-Degree Price

The cost to complete a four-year undergraduate program at U of M for in-state students is $147,728 — higher than the national average four-year degree price of $115,360.

For out-of-state residents, University of Michigan costs for a bachelor’s degree soar to $320,568. The cost difference of attending U-M as an out-of-state student is significant, compared to the $186,920 national average for out-of-state, four-year degrees.

This student loan and scholarship information may be valuable as you research schools and costs.

Undergraduate Tuition and Fees

In-state students can expect to pay $18,894 toward tuition, fees, and books and supplies. Students who are out-of-state spend notably more at $62,104 for the 2024-25 academic year. By comparison, the average in-state tuition and fees at a public institution is $11,610, and $30,780 for out-of-state students.

Graduate Tuition and Fees

For graduate students, University of Michigan tuition and fees are modest compared to the national average for a master’s degree. The average cost for a master’s degree, based on Education Data, ranges from $44,640 to $71,140. During the 2024-25 academic year, graduate tuition and fees at U of M were $28,886 for in-state students and $57,776 for out-of-state students.

There are many options for graduate loans that can help with these costs.

Cost per Credit Hour

Undergraduate Wolverines who are enrolled full-time receive a flat tuition rate for 12 to 18 credits; the per-credit cost for a 12-credit academic session is $817. However, for those who enroll part-time, the first credit hour is $1,187 for Michigan residents and $784 per additional credit hour. Out-of-state students pay $3,073 for the first credit hour and $2,670 for each additional credit.

Campus Housing Expenses

The University of Michigan offers various on-campus residence halls, with single, double, triple, quad, or suite options. According to the university, 97% of freshmen students live on campus. Estimates for on- and off-campus housing for U-M students are the same at $18,038 for food, housing, and other expenses.

Although off-campus housing estimates from the NCES report the same cost as on-campus, what you’ll ultimately pay to live off-campus varies. Expenses depend on your rental unit type, location, and number of roommates you’re splitting shared costs with. Keep in mind, however, that a rental lease is typically for a full 12-month period, not just during the academic session.