University of Michigan-Ann Arbor
Ann Arbor, Michigan · Public · 15.6% acceptance rate
ROI Score: 95/100 · Exceptional Value
University of Michigan-Ann Arbor scores a 95 (Exceptional Value) -- one of the top public universities in the dataset -- with 34,177 undergraduates and a program mix that spans 50+ tracked disciplines. In-state tuition of $17,736 and a net price of $13,138 (which includes out-of-state students in the average) make this one of the most affordable pathways to elite earnings outcomes in the country. Median 6-year earnings of $55,900 appear moderate but the 4-year earnings for high-engagement programs are revealing: Computer and Information Sciences (1,215 graduates) earns $172,904 at four years, Business Administration (613 graduates) earns $144,654. The 4-year payback period and 93.2% completion rate anchor the ROI case. The program mix has extremes: Research and Experimental Psychology is the single largest graduate count (761) at $31,568 year-one earnings (ROI grade C), while Drama earns $17,577 (ROI grade F). Michigan is exceptional for STEM and business; it is expensive -- even at in-state prices -- for students who graduate into lower-earning fields.
Graduates recoup their total investment in just 4 years. The national average for 4-year schools is closer to 8-10 years.
University of Michigan-Ann Arbor
Quick Numbers
| In-state tuition + fees | $17,736/yr |
| Out-of-state tuition + fees | $60,946/yr |
| Average net price | $13,138/yr |
| Total 4-year cost (net) | $52,552 |
| Median earnings (10yr post-entry) | $83,648 |
| Median earnings (6yr post-entry) | $55,900 |
| Median debt at graduation | $19,500 |
| Estimated monthly loan payment | $207 |
| Estimated payback period | 4 years |
| 6-year graduation rate | 93.2% |
| Undergraduate enrollment | 34,177 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at University of Michigan-Ann Arbor is $17,736/year ($60,946/year out-of-state). But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $13,138/year, or roughly $52,552 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $1,043/year, while families earning over $110,000 pay $26,517/year. The school provides substantial aid to low-income students, making it significantly more affordable than the sticker price suggests.
The median graduate leaves with $19,500 in federal loan debt, translating to an estimated monthly payment of $207 on a standard 10-year repayment plan. Against median earnings of $83,648 ten years out, the debt-to-earnings ratio is 0.35 - well within manageable territory.
Net Price by Family Income
What families actually pay after grants and scholarships, by income bracket.
| Family Income | Avg Net Price/Year |
|---|---|
| $0 - $30,000 | $1,043 |
| $30,001 - $48,000 | $1,878 |
| $48,001 - $75,000 | $4,895 |
| $75,001 - $110,000 | $10,869 |
| $110,001+ | $26,517 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning under $30,000 pay $1,043 per year -- effectively free. Michigan's financial aid for low-income Michigan residents is exceptional: Pell grants plus state and institutional aid reduce the net cost to nearly zero. A low-income in-state Michigan resident attending Michigan for free to earn $113,000 year-one in CS represents the highest-return college decision in the state. Out-of-state low-income students pay more, and the net price average across all students blends both populations.
Middle-income families ($30K-$110K)
The 30,001-48,000 bracket pays $1,878 per year and the 48,001-75,000 bracket pays $4,895. These figures again reflect in-state student costs -- and they are extraordinarily low. The 75,001-110,000 bracket rises to $10,869, still very affordable for an institution with these earnings outcomes. Middle-income Michigan families are receiving significant value relative to private alternatives.
Higher-income families ($110K+)
Families earning $110,000+ pay $26,517 per year -- the in-state sticker net of any merit or need aid. For out-of-state students paying $60,946 tuition, the net price is much higher and not fully reflected in this bracket's average. Out-of-state families should use Michigan's net price calculator rather than rely on this figure. At $26,517 in-state, a 4-year payback against $55,900 median 6-year earnings makes Michigan one of the best high-income bets among large public universities.
Earnings by Major
Top 10 most popular majors at University of Michigan-Ann Arbor with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Computer and Information Sciences | $172,904 | A |
| Research and Experimental Psychology | $67,537 | C |
| Business Administration, Management, and Operations | $144,654 | A |
| Economics | $110,552 | B+ |
| Biochemistry and Molecular Biology | $67,925 | C |
| Kinesiology and Exercise Science | $79,411 | B |
| Biology | $61,127 | D |
| International Relations | $77,480 | C+ |
| Mechanical Engineering | $105,888 | B+ |
| Mathematics | $109,146 | B+ |
Earnings reflect median 4-year post-completion (or 1-year where 4-year unavailable). Grades based on debt-to-earnings ratio.
Program Analysis
Why these programs deliver their earnings outcomes.
Computer and Information Sciences
Michigan CIS is one of the largest high-earning programs in the country by volume: 1,215 graduates, $113,634 at year one, $172,904 at four years. The debt-to-earnings ratio of 0.176 (ROI grade A) and $20,000 median debt show exceptional efficiency -- graduates are earning nearly six times their annual debt service in the first year alone. Michigan CS graduates enter the full spectrum of technology roles: major tech companies, automotive software (especially relevant given Michigan's Detroit connections), and financial technology firms. In-state students paying $17,736 tuition for a degree leading to $113,000 year-one earnings are making one of the best financial decisions available in American higher education.
Business Administration, Management, and Operations
Ross School of Business sends 613 Business Administration graduates into the workforce earning $93,674 at year one and $144,654 at four years. The debt-to-earnings ratio of 0.203 (ROI grade A) with $19,000 median debt is strong. Ross is consistently recognized by employers as one of the top undergraduate business programs, and the Scorecard data validates that recognition. Graduates enter consulting, finance, technology, and management roles at large companies. In-state students at $17,736 tuition getting $93,000 year-one earnings are accessing a program that competes with schools charging $70,000+ in tuition.
Economics
Economics (608 graduates) earns $68,416 at year one and $110,552 at four years -- strong performance from a large cohort. The debt-to-earnings ratio of 0.288 (ROI grade B+) is reasonable. Michigan economics graduates enter consulting, finance, and policy roles. The four-year earnings ($110,552) reflect rapid advancement in professional services roles. For in-state students, this program delivers substantial ROI with minimal debt relative to earnings -- the $19,690 median debt repays quickly against $68,000 starting salaries.
Mechanical Engineering
Mechanical Engineering (239 graduates) earns $82,823 at year one and $105,888 at four years. The debt-to-earnings ratio of 0.263 (ROI grade B+) and $21,750 median debt are manageable. Michigan ME graduates enter automotive engineering, aerospace, defense, and manufacturing roles regionally (Michigan industrial base) and nationally. The four-year crossing of $100k reflects advancement into senior design, systems, or management roles. Michigan's connection to the automotive industry creates placement pathways for ME graduates that most comparable programs lack.
Industrial Engineering
Industrial Engineering (138 graduates) earns $86,476 at year one and $117,930 at four years. The debt-to-earnings ratio of 0.235 (ROI grade A) and $20,306 median debt are efficient. IE graduates from Michigan enter operations, supply chain, manufacturing, and systems engineering roles across automotive, logistics, and technology sectors. The intersection of Michigan's automotive industrial ties and IE's operations focus creates specific regional demand that translates into above-average starting salaries and rapid advancement.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 79.9% | 52.0% |
| 3-year repayment | 82.7% | 62.0% |
| 5-year repayment | 80.3% | 68.0% |
| 7-year repayment | 83.3% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 15.6% |
| SAT Math (25th-75th) | 680-780 |
| SAT Reading (25th-75th) | 680-750 |
| ACT Composite (25th-75th) | 31-34 |
| Enrollment | 34,177 |
| Pell Grant recipients | 18.1% |
| Avg faculty salary (monthly) | $13,384 |
Michigan admits 15.6% -- competitive, with higher rates for in-state Michigan residents in some colleges. SAT 680-780 Math, 680-750 Reading; ACT 31-34. The Ross School of Business and College of Engineering are more competitive than the College of Literature, Science, and the Arts. Students should apply to the specific college relevant to their intended major and understand that transferring into Ross or Engineering as a sophomore is competitive.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
Michigan's Scorecard peers include UC Berkeley (ROI 97), UCLA (ROI 96), UNC Chapel Hill (ROI 94), Central Michigan (ROI 51), and Eastern Michigan (ROI 42). Michigan sits between Berkeley/UCLA and UNC on ROI score (95). Berkeley's 3.4-year payback is faster than Michigan's 4.0, but Michigan's 6-year earnings ($55,900) are higher than UNC's ($49,900). The Central Michigan and Eastern Michigan entries in this peer set reflect Scorecard proximity matching -- both are dramatically lower in ROI, earnings, and completion. Michigan outperforms Central Michigan on every dimension: completion (93.2% vs 58.7%), 6-year earnings ($55,900 vs $37,600), and payback (4.0 yr vs 10.1 yr).
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| University of Michigan-Ann Arbor (this school) | 95 | $13,138 | $83,648 |
| University of California-Berkeley | 97 | $13,481 | $92,446 |
| University of California-Los Angeles | 96 | $12,548 | $82,511 |
| University of North Carolina at Chapel Hill | 94 | $11,655 | $72,200 |
| Central Michigan University | 51 | $17,597 | $55,874 |
| Eastern Michigan University | 42 | $15,407 | $51,793 |
Who Thrives Here
Michigan admits 15.6% of applicants -- selective, not hyper-selective -- with SAT 680-780 Math, 680-750 Reading; ACT 31-34. The 18.1% Pell rate and $19,500 median debt suggest the financial aid system reaches middle-income families effectively, especially at in-state rates. Students who thrive here have either a clear technical or business major in mind or the academic resilience to manage a 34,000-student institution and find their path. Liberal arts, biology, and psychology students should enter aware that strong 4-year outcomes require graduate or professional school investment.
The Verdict: The Investment Pays Off
University of Michigan-Ann Arbor is one of the strongest financial investments in higher education. With a total 4-year net cost of $52,552 and median graduate earnings of $83,648 ten years out, the math works decisively in graduates' favor. The estimated payback period of 4 years is well below average.
The data highlights several strengths: strong earnings premium over high school graduates, a 93.2% graduation rate, manageable debt relative to earnings, high loan repayment success.
Median debt of $19,500 is very manageable against $83,648 in annual earnings - well within the financial advisor rule of thumb that total debt should not exceed first-year salary.
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Data: College Scorecard API (U.S. Department of Education)
Vintage: 2024-2025 · Last updated: 2026-03-25
Earnings reflect median outcomes for all federal financial aid recipients. Individual results vary by major, effort, and career path.