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 Sample Aid Packages

Below are sample financial aid packages for resident and non-resident students.  Families might receive more or less aid than shown here, depending on their financial circumstances and their expected contribution. This information may also be downloaded here in a PDF version for resident and non-resident students.

Some definitions to consider as you view the charts below:

  • Grants: Gift funds, based on need, that do not have to be repaid. More about grants
  • Work-Study: Wages earned through employment. Students work part-time for eligible employers and earn up the amount awarded. More about Work-Study
  • Loans: Funds that must be repaid with interest after you are no longer a student. More about loans
  • Estimated/Expected Family Contribution: Parent assets, low-interest federal loans, private loans or other types of assistance for which parents or students may qualify. This could include scholarships, which are gift funds that do not have to be repaid. More about scholarships and private scholarship listings

On this page

 

MICHIGAN RESIDENT (IN-STATE) PACKAGES
 FAMILY INCOMES OF $20,000 OR LESS  FAMILY INCOMES BETWEEN $20,001-$40,000  FAMILY INCOMES BETWEEN $40,001-$60,000
Family's Financial Need
Total cost of attendance   $25,848
Estimated family contribution (EFC) -          0
GROSS NEED = $25,848
     
Financial Aid Package
Grants   $23,348
Federal Work-Study +    2,500
TOTAL AID/COST
OF ATTENDANCE
= $25,848
Family's Financial Need
Total cost of attendance   $25,848
Estimated family contribution (EFC) -        360
GROSS NEED = $25,488
     
Financial Aid Package
EFC   360
Grants + 20,390
Federal Work-Study + 2,500
Loans +    2,598
TOTAL AID/COST
OF ATTENDANCE
= $25,848
Family's Financial Need
Total cost of attendance   $25,848
Estimated family contribution (EFC) -     3,517
GROSS NEED = $22,331
     
Financial Aid Package
EFC   3,517
Grants + 16,233
Federal Work-Study + 2,500
Loans +    3,598
TOTAL AID/COST
OF ATTENDANCE
= $25,848
     
     
 FAMILY INCOMES BETWEEN $60,001-$80,000  FAMILY INCOMES BETWEEN $80,001-$100,000

 SPECIAL CIRCUMSTANCE

Kevin's mother became disabled and had to resign from her job of 20 years. His twin sister, who had taken time off from college, decided to attend a local community college in the fall. After receiving an initial financial aid offer, Kevin's family contacted the Office of Financial Aid (OFA) to ask for reconsideration of his award based on the changes in the famiy's circumstances. Kevin's parents were able to supply documentation of both his mother's disability and the family's projected annual income of $72,800. Financial aid officers reviewed the change in circumstances and re-evaluated the family's need for assistance with the following results:

  $25,848   Cost of Attendance
- 3,784   Expected Family
  Contribution (EFC)
= $22,064   Need for Aid
     
FINANCIAL AID OFFER:
  $15,466   Grant
+ 2,500   Work-Study
+ 4,098   Loan
= $22,064   Total Aid Offered


Kevin's parents have the option of borrowing the entire EFC plus the remaining Need for Aid through the Federal Direct PLUS Loan, a low-interest, long-term loan for parents of dependent students.

Family's Financial Need
Total cost of attendance   $25,848
Estimated family contribution (EFC) -     8,212
GROSS NEED = $17,636
     
Financial Aid Package
EFC   8,212
Grants + 11,038
Federal Work-Study + 2,500
Loans +    4,098
TOTAL AID/COST
OF ATTENDANCE
= $25,848
Family's Financial Need
Total cost of attendance   $25,848
Estimated family contribution (EFC) -   13,216
GROSS NEED = $12,632
     
Financial Aid Package
EFC   13,216
Grants + 6,034
Federal Work-Study + 2,500
Loans +    4,098
TOTAL AID/COST
OF ATTENDANCE
= $25,848

If you are a dependent undergraduate, you can calculate an estimate of your cost of attendance and financial aid at the University of Michigan using the M-Calc Net Price Calculator (available in English or Spanish).

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NON-RESIDENT (OUT-OF-STATE) PACKAGES
 FAMILY INCOMES OF $20,000 OR LESS  FAMILY INCOMES BETWEEN $20,001-$40,000  FAMILY INCOMES BETWEEN $40,001-$60,000
Family's Financial Need
Total cost of attendance   $51,976
Estimated family contribution (EFC) -            0
GROSS NEED = $51,976
     
Financial Aid Package
Grants   43,476
Federal Work-Study + 3,000
Loans + 5,500
Add'l. loan eligibility
+ EFC
+            0
TOTAL AID/COST
OF ATTENDANCE
= $51,976
Family's Financial Need
Total cost of attendance   $51,976
Estimated family contribution (EFC) -        262
GROSS NEED = $51,714
     
Financial Aid Package
Grants   32,888
Federal Work-Study + 3,000
Loans + 4,500
Add'l. loan eligibility
+ EFC
+   11,588
TOTAL AID/COST
OF ATTENDANCE
= $51,976
Family's Financial Need
Total cost of attendance   $51,976
Estimated family contribution (EFC) -     3,373
GROSS NEED = $48,603
     
Financial Aid Package
Grants   26,677
Federal Work-Study + 3,000
Loans + 4,500
Add'l. loan eligibility
+ EFC
+    17,799
TOTAL AID/COST
OF ATTENDANCE
= $51,976
     
     
 FAMILY INCOMES BETWEEN $60,001-$80,000  FAMILY INCOMES BETWEEN $80,001-$100,000

 RESOURCES FOR
NON-MICHIGAN RESIDENTS

While the Office of Financial Aid does not have sufficient funds to meet the full demonstrated financial need of many non-resident students in higher income brackets, there are private scholarships available and scholarships from U-M schools and colleges for eligible students. See our Types of Scholarships page for more information.

Another option often used by non-resident families is the federal Direct PLUS Loan, which is available to parents of dependent undergraduates. In addition, many banks and other private lenders offer private educational loans for students. Our financial aid counselors will work with students and families to suggest additional options and methods to help pay for educational costs.

Family's Financial Need
Total cost of attendance   $51,976
Estimated family contribution (EFC) -     8,374
GROSS NEED = $43,602
     
Financial Aid Package
Grants   19,476
Federal Work-Study + 3,000
Loans + 4,500
Add'l. loan eligibility
+ EFC
+   25,000
TOTAL AID/COST
OF ATTENDANCE
= $51,976
Family's Financial Need
Total cost of attendance   $51,976
Estimated family contribution (EFC) -   13,260
GROSS NEED = $38,716
     
Financial Aid Package
Grants   14,590
Federal Work-Study + 3,000
Loans + 4,500
Add'l. loan eligibility
+ EFC
+   29,886
TOTAL AID/COST
OF ATTENDANCE
= $51,976

 

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