The average reported annual net price for University of Michigan Ann Arbor for students receiving grants or scholarship aid was $15,850 in 2014/2015.
||Percent Receiving Aid
|Average Annual Total Grant Aid
|Average Pell Grant
|Average Annual Federal Student Loan
To gauge a more realistic picture of what it may really cost you out of pocket to go to University of Michigan Ann Arbor, we've modeled a ten year student loan with an original principal value of $56,296. The loan balance of $56,296 is a four year multiple of the $14,074 average net price. This is a estimate of what you could owe upon graduation if you were to qualify for average financial aid and what a degree really may cost. Should you not qualify for financial aid, you may owe significantly more when you graduate. Based on these assumptions, a monthly repayment of $588 could be required to satisfy your student loan.
Please note that financial aid is not guaranteed and is only available for qualifying students. Federal Student Loans are not grants and must be repaid with interest. The current Stafford loan interest rate is 4.7%.
|Stafford Loan Interest Rate
|Time to Pay Off Student Loan
|Example Monthly Payment
|Total Interest Paid
|Sum of All Loan Payments