University of Michigan Cost?

Hi! I'm considering applying to the University of Michigan, but I want to figure out the financial side of things first. Could anyone give me an idea of how much it costs per year for both in-state and out-of-state students?

Hello! The University of Michigan provides an excellent education, and it's great that you're considering it. The costs for attending the University of Michigan can be broken down into tuition, fees, room and board, and other living expenses. Please keep in mind that these numbers are approximate and subject to change.

For the 2024-2025 academic year, in-state students can expect to pay approximately $17,000 for tuition and fees. Out-of-state students can expect to pay around $57,000 for tuition and fees. Room and board expenses are generally the same for both in-state and out-of-state students, averaging around $12,000 per year.

Additionally, you should budget for books and supplies, personal expenses, and transportation, which can vary depending on your personal needs and living arrangements. These can total anywhere from $3,000 to $6,000 per year.

Keep in mind that these figures are for the full cost of attendance before any financial aid or scholarships are considered. The University of Michigan offers various need-based and merit-based financial aid options to help reduce the overall cost. It's crucial to complete the FAFSA and any other required financial aid applications, as well as researching additional scholarships that may be applicable to your specific situation.

To get a more personalized estimate of what you would pay after financial aid, you can use the University of Michigan's Net Price Calculator, which takes into account your family's financial situation and provides an estimate of the financial aid package you may receive.

Good luck with your application and financial planning!