Cost & financial aid brief
University of Michigan-Ann Arbor Tuition, Costs & Financial Aid
How much does Michigan cost after financial aid?
The University of Michigan-Ann Arbor publishes a sticker cost of $34,654. The average aid recipient pays an average net price of $13,138 — an offset of $21,516, meaning aid covers about 62% of the published cost.
That average net price is below the peer median of $15,634 among comparable institutions (same type and size) by $2,496. The pattern across income bands shows the largest discounts flowing to families with the fewest resources.
The lowest-income band (under $30,000) averages $1,043, while the highest band (over $110,000) averages $26,517 — a spread of $25,474 that reflects a steeply progressive aid structure. In its 2025-26 Common Data Set, the university reported that for the 2025-26 academic year it met an average of 91% of need for aided first-year students.
Among the 2,699 first-year students determined to have need, 1,820 had their need fully met, and the average need-based grant was $30,307 within an average package of $38,078. Separately, 1,261 first-year students received an average merit award of $4,587.
The published cost of attendance at University of Michigan-Ann Arbor is $34,654. Azimuth ranks the university #288 for affordability among nonprofit four-year institutions.
After grants and scholarships, the average net price for aid recipients from families earning under $30,000 is $1,043, for those earning $48,001 to $75,000 it is $4,895, and for those earning over $110,000 it is $26,517. The spread between the lowest and highest bands is $25,474.
Aid covers about 62% of the published cost for the average aid recipient, bringing the overall average net price to $13,138. That is $2,496 below the peer median of $15,634 for comparable institutions (same type and size).
Borrowers who finish carry a median of $19,500 in federal student loans, $576 below the peer median of $20,076. About 79.7% of federal aid recipients take federal loans.
Parents who borrow hold a separate median of $30,250 in Parent PLUS loans. If repaid over ten years, the median federal student debt corresponds to an estimated payment of $222 a month.
Student loans: what does repayment look like?
The median federal student debt for borrowers who complete a degree at University of Michigan-Ann Arbor is $19,500. That median is below the $20,076 median at comparable institutions (same type and size) by $576.
About 79.7% of federal aid recipients take federal loans. The median Parent PLUS debt, tracked for a separate parent-borrower population, is $30,250.
In its 2025-26 Common Data Set, the university reported that 31% of graduates borrowed from any source, averaging $29,244 per borrower. Federal loans were held by 30% of graduates, averaging $17,980, including 6% who also held private loans averaging $58,285.
The investment picture at University of Michigan-Ann Arbor is shaped by earnings that run well ahead of both the peer median and expectation. Borrowing stays close to the peer norm.
Four years after completion, federally aided graduates who are working and not enrolled earn a median of $96,159, at the 96th percentile nationally. That is $30,549 above the $65,610 median for comparable institutions (same type and size).
Graduates earn about $21,484 more than the model expects for similar students, an outcome at the 97th percentile. Earnings scenarios, estimated from the program mix, show a typical outcome of $96,159, with a downside case at $59,727 and an upside case reaching $153,559.
The median federal student debt at completion is $19,500, $576 below the $20,076 peer median. That debt corresponds to an estimated payment of $222 a month if repaid over ten years.
Median Parent PLUS borrowing, a separate parent-borrower population, is $30,250. The estimated monthly student payment if repaid over ten years is $222.
Repayment figures are in the Financial GPS card below. Borrowing populations and model assumptions.
Parent loans: what can the family afford?
How Parent PLUS borrowing affects families
- Median Parent PLUS debt
- $30,250
- Estimated parent payment
- $384/mo
| Income | Risk level |
|---|---|
| $35,000 | High pressure |
| $50,000 | High pressure |
| $75,000 | High pressure |
| $100,000 | Caution |
| $150,000 | Safe |
| $200,000 | Safe |
The model holds the parent balance fixed and varies parent income. Read the assumptions and limits.
Student and parent loans: the monthly payments
Financial GPS
What does repayment look like?
- Institution median student debt
- $19,500
- Institution Parent PLUS debt
- $30,250
Federal loans only; private or institutional loans aren’t included.
- Estimated student payment · monthly
- $222/mo
- Estimated Parent PLUS payment · monthly
- $384/mo
- Modeled student + parent payments
- $606/mo
Payments use school-wide median balances, not a specific major’s.
Student payment as a share of available income
At median graduate earnings of $96,159, with a $22,590 annual allowance for basic expenses:
3.6% of income above the allowance · Excellent
- Excellent Under 8% · selected scenario
- Good 8–under 12%
- Concerning 12–20%
- High risk Over 20%
How this estimate works
The income spectrum compares the estimated student payment with the income left after the selected annual expense allowance. Changing the earnings scenario or allowance changes that comparison; parent payments are not included in this calculation.
The earnings choices are planning scenarios, not observed earnings percentiles or predictions of an individual graduate’s pay. The allowance is an adjustable model input, not a verified budget for your household.
Read the result as a comparison under those assumptions, not a guarantee that a payment is affordable.
Payment assumptions
Payments are 10-year standard payments on the median balance, before loan fees, used as a yardstick. Rates for newly issued loans may differ, and loans made after July 1, 2026 can repay over a longer term; existing loans keep their original fixed rates.
Federal student and Parent PLUS borrowing figures do not capture all private education loans. A federal balance therefore should not be described as a family’s complete borrowing total.
Annual loan awards in a Common Data Set, when available, answer a different question from accumulated borrower debt. Compare amounts only after identifying the loan type, reporting period and population; annual school-wide awards cannot be added to a median borrower balance.
Data & methodology
Sources and reporting periods: methodology.
Analysis and methodology by Daniel Rogers, founder of College Azimuth.
Explanatory text is AI-assisted drafting checked against those figures; it is not an additional data source.
Figure notes link to sources and limitations. About College Azimuth.
Net price and borrowing. The 2023–24 income-band averages include living costs and cover eligible first-time, full-time aid recipients; public-school figures reflect in-state tuition. They are not individual aid offers. Peer matching supplies overall net prices, not matched income-band averages. College Scorecard data and documentation.
A personal student-risk assessment also needs your major and borrowing plan; these school-level illustrations do not assign you a personal risk zone.
Payments are 10-year standard payments on the median balance, before loan fees, used as a yardstick. Rates for newly issued loans may differ, and loans made after July 1, 2026 can repay over a longer term; existing loans keep their original fixed rates. Private-loan figures from the Common Data Set are separate from these federal repayment illustrations.