Student Loans for University of Michigan Students

About University of Michigan

student loansOne of the Public Ivies, Michigan was founded in 1817, before the state itself. 26,000+ brainy undergrads live and study on the campus in Ann Arbor, with another 15,000+ postgrads alongside them. The university sits on a massive campus of 21,000 acres when including their university arboretum, and while we’re on the topic of size, their Wolverines play football in The Big House, the largest football stadium in the world.

When receiving University of Michigan Financial Aid, it’s important to be pretty careful with your cash. You never want to spend a dollar more than you need to, as it might mean borrowing another dollar more. Of course, spending money on things like student tickets (football, basketball, even hockey if you’re so inclined) is totally worthwhile, as is the occasional meal off-campus; just don’t go crazy. Try your best to stick to your budget and you’ll find yourself in good financial standing at the end of each semester.

University of Michigan Student Loans

student loansMichigan has a pretty healthy endowment, and as such, is able to support a relatively strong financial aid program. That said, a University of Michigan Financial Aid award will consist of the four typical ingredients: student loans, grants, scholarships, and work-study programs. These four pieces will take care of financial need for most of the students who attend Michigan, but for some, additional funding is needed. In these cases, private student loans are often a good option, but only when all other sources of funding have been exhausted. To find the student loan that’s right for you, just check out our student loan comparison tool right on this page. It lets you search and compare loans from a variety of top national and local lenders in order to find the loan that best fits your needs.

Pay for University of Michigan*

Total Avg. Cost $23,721
Tuition $11,470
Room & Board $9,198
Financial Aid Information
Students Receiving Fin Aid 79%
Typical Grant Amounts
State/Local $1,295
Federal $5,058
%Receiving Loans 37%
Avg. Other Stud. Loans $12,707
%Receiving Other Loans 6%

Get into University of Michigan

Admission Rate 50%
Total Enrollment 41,674
Men 52%
Women 48%
Graduation Rate 89%
Application Fee $40

Contact University of Michigan

Address
University of Michigan
Ann Arbor, MI 48109(734) 764-1817
Financial Aid Office URL
http://www.finaid.umich.edu/Home.aspx
Admissions Office URL
http://www.admissions.umich.edu/home-page

*Data source is the Integrated Postsecondary Education Data System (IPEDS) the data collection program for the National Center for Education Statistics

 

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