Budget & Affordability Resources

The University of Michigan’s long-standing commitment to making higher education accessible and affordable is rooted in its mission as a public university.

Money – Best Colleges - 2023

In winter 2018, U-M, launched the “Go Blue Guarantee,” providing aid that at a minimum covers four years of tuition for any admitted in-state student whose family income is below $65,000 and has less than $50,000 in assets. Those thresholds increased to $75,000 each for the Ann Arbor campus in 2023.

Money Magazine recognized U-M in 2023 as one of “America’s Best Colleges,” based on the university’s quality of education, affordability and student outcomes.

For students on the Ann Arbor campus:

  • One in five resident undergraduates pays no tuition.
  • About 60% of resident undergraduates pay less than than the “sticker price” tuition.
  • Over the past decade, the undergraduate financial aid budget has grown an average of 10% annually compared to 2.7% for in-state tuition and 3.7% for out-of-state tuition.

Updated: Jan. 2024

Typical Cost of Attendance

Today’s typical in-state students with family incomes up to $120,000 pay less to attend U-M than their counterparts did in 2012-13.

Chart: In-State Net Price by Family Income

The chart above shows the typical net cost of attendance for in-state first-year students by family income level, before merit aid, adjusted for inflation, for academic year 2022-23 compared to 2012-13.

The Michigan Almanaca balanced and factual picture of all facets of the University of Michigan-Ann Arbor campus produced annually by the Office of Budget and Planning, includes an entire chapter on affordability. It offers a wealth of information on a range of topics, from tuition and fees to financial aid, family income distribution and student loan debt. Click here to download a PDF of Chapter 3 Undergraduate Students: Affordability.

Budget Snapshot

Learn more about the General Fund budget for the University of Michigan-Ann Arbor with an overview that includes where the money comes from and where the money goes.

The Value of Public Research Universities

Check out the following video from the American Academy of Arts & Sciences that briefly explains how our nation’s public research universities serve as critical centers of learning, culture, research, and entrepreneurship that drive social mobility and economic growth.

Additional Tuition Q&A ⇒

General Fund 2023-2024 Budget Narrative ⇒

Where Does the Money Go?

Amy Dittmar, former Senior Vice Provost for Academic and Budgetary Affairs, recorded seven videos in March 2021 to communicate budget concepts to a campus audience. Where these videos provide financial data, it is current for the 2020-2021 fiscal year. Many of the concepts and principles discussed in the videos, however, are relevant in any budget year.