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
| • 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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| • 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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