Federal
Federal Pell Grant
Up to $7,395 a year (2026–27)
Who qualifies: undergraduates with financial need, based on the FAFSA. It never has to be repaid.
How: file the FAFSA.
Official rules →Paying for college · Ann Arbor, MI
How students pay for the University of Michigan
Sticker price $36,613 a year. After grants, the average student pays $14,362, and what you pay depends on your family's income: anywhere from $3,155 to $28,625.
- 16%admitted
- 34,177undergraduates
- 93%graduate
- 54%get a grant from the school
What it costs, by family income
Average yearly net price for first-time, full-time students who received federal aid, paying in-state tuition. Tap your bracket.
Out-of-state tuition is $63,962 a year versus $18,346 for Michigan residents, so non-residents usually pay far more than these figures.
Where the money comes from
Share of first-year students receiving each type of aid, and the average amount.
54%grant from University of Michiganavg $20,048
18%Federal Pell Grantavg $5,725
10%state grantavg $1,513
23%federal student loanavg $4,988
Grants and scholarships you can apply for
State grant · Michigan
Michigan Achievement Scholarship
Up to $5,500 a year at a public university (up to five years)
Who qualifies: Michigan residents with a Student Aid Index of $30,000 or less, enrolled full-time. From 2026–27 a Michigan high-school diploma is no longer required.
How: No separate application: file the FAFSA.
Official rules →From the school
University of Michigan grants and scholarships
54% of first-years get one · average $20,048
Most need-based aid comes automatically with your FAFSA. Merit and departmental scholarships often have their own deadlines.
University of Michigan financial aid office →State grants follow your home state, not the school's: check your own state's programs if you are coming from elsewhere.
Living in Ann Arbor
| Studio | $1,700/mo |
|---|---|
| One-bedroom | $1,750/mo |
| Two-bedroom, shared | $1,055/mo each |
HUD FY2027 Fair Market Rents, campus ZIP 48109. Campus housing is often cheaper in the first year.
Working while you study
$13.73/hour minimum wage in Michigan
15 hours a week over a 30-week academic year ≈ $6,179 before tax. That covers about 6 months of a shared room.
Minimum wage: rises to $15.00 on 1 January 2027. Ask the financial aid office whether you qualify for Federal Work-Study.
After graduation
$18,515median federal debt≈ $210/month over 10 years
$92,832median earnings10 years after enrolling
93%graduate within 6 yearsfirst-time students
Close the gap without another loan
Since July 2026 Parent PLUS loans are capped, so more families are left with a gap after aid. Students use My Study Fund to collect monthly support from family, friends and mentors: 20 people giving $25 a month is $6,000 a year, and you receive every dollar.
Questions students ask about paying for University of Michigan
How much does University of Michigan really cost after financial aid?
The average student who received aid paid $14,362 a year after grants and scholarships. By family income it ranges from $3,155 to $28,625. The full cost of attendance before aid is $36,613.
Does University of Michigan give scholarships and grants?
Yes. 54% of first-year students received a grant from University of Michigan itself, averaging $20,048. 18% received a Federal Pell Grant (average $5,725).
How much is rent near University of Michigan?
HUD's FY2027 Fair Market Rent for the campus ZIP code (48109) is $1,750 a month for a one-bedroom and $2,110 for a two-bedroom, about $1,055 each when shared.
Can I work part-time while studying at University of Michigan?
Yes. The minimum wage in Michigan is $13.73 an hour; 15 hours a week over a 30-week academic year earns about $6,179 before tax.
How much debt do University of Michigan graduates have?
The median federal debt at graduation is $18,515, about $210 a month on a 10-year plan. Median earnings ten years after enrolling are $92,832.
Sources
U.S. Department of Education College Scorecard (release 10152026) and IPEDS (SFA2223 student financial aid, first-time full-time students); HUD FY2027 Small Area Fair Market Rents; state and federal program pages linked above, checked 2026-10-28. My Study Fund is not affiliated with University of Michigan-Ann Arbor. How these pages work.
More in Michigan: Michigan State University · All colleges in Michigan →