Student Tuition and Fees
Effective Fall 2014
Dear University of Michigan Students and Families,
The Board of Regents approved the University's budget and set tuition and fees for the 2014-2015 academic year at their June meeting. Developing our budget and setting tuition is particularly challenging, given the economic circumstances of the state and the nation. As the Regents and the administration develop a budget and set tuition each year, two top priorities are to maintain and advance the excellence of our educational programs and to ensure access to the University by students from all economic backgrounds. We strive to keep our tuition increases moderate, and to provide as much financial aid as possible.
Tuition rates vary by program and student level. Most resident undergraduate tuition will rise by 1.6%. Increases for full-time resident undergraduates range from $105-$358 per term. Most non-resident undergraduate tuition will increase by 3.4%. Full-time non-resident undergraduate students will see an increase of $690-$830 per term. Tuition for most graduate programs will go up by 2.4%. Required fees will increase by $67 per term. Room and Board is separately assessed and will increase at a rate of 2.5%.
The new tuition and fee schedule can be found on our website at: http://www.provost.umich.edu/Fall2014FeeSched.pdf. It is important to note that this message is not a bill. The email notification for the official bill will be sent the second week in August with payment due for the Fall Term on August 31.
The recently released U.S. Department of Education's College Affordability and Transparency Lists shows that the University of Michigan - Ann Arbor has had increases in tuition and fees over the past three years that are lower than 415 of the approximately 660 public four-year universities in the country, and increases in net price (tuition and fees net of financial aid) lower than 531 of them.
We have consistently boosted financial aid for students with demonstrated need from year to year, and this year's budget includes a 17.2% increase in centrally awarded financial aid for undergraduates. This includes additional support for both in-state and out-of-state students.
We are mindful of the effects that the continued economic climate may have on our students and their families. If your circumstances have changed, or change over the next year, you may be eligible for assistance even if you did not qualify for financial aid in the past. For detailed information regarding financial aid, please see the Office of Financial Aid website (see below).
Tuition helps support the quality teaching, learning opportunities, undergraduate research experience and respected scholarship that make a University of Michigan education one of the best in the world. Through prudent fiscal management, we are committed to continuing to provide the highest quality education to our students, preparing them to be leaders in the 21st century.
I hope that you are enjoying the summer and are looking forward to the start of the academic year.
Martha E. Pollack
Provost and Executive Vice President for Academic Affairs
For additional information, please see:
Cost Containment: http://www.vpcomm.umich.edu/pa/key/budget/
Financial Aid: http://www.finaid.umich.edu
Room & Board: http://www.housing.umich.edu/
Student Financial Services: http://www.finops.umich.edu/student
Tuition and Fees: http://ro.umich.edu/tuition/
Tuition History: http://obp.umich.edu/wp-content/uploads/pubdata/factsfigures/tuitionhistory_umaa_fall14.pdf
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