Tuition & Financial Aid

  Michigan Residents Non-Michigan Residents
Full-Time MBA Tuition
(per academic year)
$63,646 $68,646

The 2018-19 tuition rates were approved by the University of Michigan Board of Regents in June 2018. Estimated 2019-20 tuition rates will be posted in July 2019.


Other Costs

In addition to tuition, all Full-Time MBA students may borrow funds to cover the following approved costs: 

(Per Academic Year)

Registration Fees: $328

Books, Course Packs, and Supplies: $1,716

Food and Housing: $15,570

Personal Expenses (including health care insurance): $6,352

Loan Fees: $222

The above cost of attendance budget was finalized by the University of Michigan Regents in June 2018. The estimated 2019-20 cost of attendance budget will be posted in July 2019.


Residency

Michigan residents pay in-state tuition rates. Non-Michigan residents pay out-of-state tuition rates. If you believe your status should be changed to Michigan resident, or if you have other residency questions, please contact the Residency Classification Office at (734) 764-1400.


Dates & Deadlines

TERM TUITION DUE DATES

Fall 2018: Aug. 31, 2018

Winter 2019: Jan. 9, 2019

Fall 2019: Aug. 31, 2019

Bills are sent approximately two weeks prior to the due date. You must be enrolled in a term to be billed for tuition and fees.

More Information

Scholarships

You are considered for scholarships automatically when you apply to the Full-Time MBA program, and you are notified of any awards upon admission.

  • No separate application is required.
  • Awards are based on academic ability, professional and personal achievements, and potential to contribute to our community.
  • Scholarships range from $10,000 to full tuition.
  • We do not negotiate scholarship offers.

The Ross Financial Aid Office also posts scholarship opportunities throughout the year. Many of these scholarships are need based. U.S. citizens and permanent residents are encouraged to complete the Free Application for Federal Student Aid (FAFSA) online at studentaid.ed.gov/sa/ to be considered for all scholarships. Email notifications will be sent to you when scholarship opportunities are available.


Special Scholarships

The Tauber Institute for Global Operations offers a number of scholarships to students in the program.

  • No separate application is required.
  • All Tauber students are considered.
  • Award recipients are notified of selection after admission to the program.

The Erb Institute offers various funding opportunities.

  • For recruitment scholarships, you may apply once you have been admitted to either Ross or the School for Environment and Sustainability, and have submitted an application to the other school. Award notifications are usually made within a month.

We encourage you to review the U-M scholarship/fellowship opportunities as well as the private scholarship link, which includes a listing of free, web-based scholarship search services.

For additional information or questions regarding financial aid, please contact the Ross Financial Aid Office at rossfinaid@umich.edu.

Loans

Federal Direct Unsubsidized Loan

To apply for your federal Direct Unsubsidized Loan complete the Free Application for Federal Student Aid (FAFSA) using U-M's federal code 002325. This can be completed online at studentaid.ed.gov or by downloading the mobile app myStudentAid.

The FAFSA is available on Oct. 1, at no cost to students.  Although we recommend you complete this by March 31, you can continue to apply after this date. You will be considered for the federal Direct Unsubsidized Loan at $20,500 per academic year (split between fall and winter).

When you apply for financial aid at U-M using the FAFSA, we verify the information you submitted to the federal processor. We will sometimes ask you for additional information and review other university records during the application process. Your FAFSA record may be corrected based upon this information.

Students who are asked to submit additional documents (such as but not limited to copies of federal tax transcripts, proof of selective service registration, proof of citizenship or permanent residency, etc.). When this is required, we will contact you by email. Simply sign in to Wolverine Access (https://wolverineaccess.umich.edu) to view a list of needed documents.

Federal Direct Grad PLUS Loan

Direct PLUS Loans are part of the federal Direct Loan Program. Graduate/professional students apply separately for the PLUS in addition to completing a FAFSA, if additional funds are needed to cover remaining tuition and/or other cost of attendance items. Student may borrow up to the amount of their cost of attendance, minus any other financial assistance a student receives. Note that it takes an average of four weeks to process loans through our office.

Private Loans

Private student loans are offered through a variety of banks and other lenders. Students wanting private loan must apply separately from their financial aid application through an individual lender. The best rates on these loans are generally offered to borrowers with good credit and/or who have a cosigner with good credit.

When shopping for a private loan, look for a loan you can live with in both the short term and long term. You may be repaying it for multiple years after graduation. Many loan providers will lend up to the student’s cost of attendance minus any financial aid received. Often there is a yearly and/or cumulative cap on the amount the student may borrow; sometimes this cap is set by the student’s school. Note that it takes an average of 4 weeks to process loans through our office.

If you are considering borrowing though a private lender, we encourage you to:

  • Exhaust all other possible sources of financial aid first, including federal loans and Work-Study.
  • Reduce your expenses and borrow only what you need.
  • Ask questions and compare rates and terms offered by different lenders.

If you pursue a private loan, apply directly through the lender you select. Choose any lender and the University will certify your application.

Beware of suspicious or unsolicited loan offers

U-M students should avoid lenders that don't require U-M to certify their loan application and should be suspicious of unsolicited loan offers. The Michigan Student Financial Aid Association cautions students that "loan debt can accumulate quickly and result in a lifetime burden of high payments and credit denials for automobile purchases, credit cards, and home mortgages. Private loans also can reduce eligibility for more desirable federal, state and college aid programs. To avoid these problems, read and understand the terms and conditions of all loans."

To browse a selection of approved lenders, please visit the University of Michigan's FASTChoice Private Education Loans site.

For International Students please visit this FASTChoice Private Education Loans – For International Students web link. 


Please note that U of M has not endorsed these programs, but is making the information available to you. The university does also adhere to the Code of Conduct for Student Loans that prohibits inducements or incentives by private lenders.

Other Aid

Assistantships

Appointments for Graduate Student Research Assistantships, Graduate Student Assistants, Graduate Student Instructors, and Graduate Student Staff Assistants are considered separately from the financial aid application process.  

General Appointment Information

Graduate Student Appointment Postings


U-M Child Care Subsidy

The U-M Child Care Subsidy Program provides funds to students with children to assist in meeting the cost of licensed child care.


Loan Repayment Assistance Program

The Ross Loan Repayment Assistance Program provides financial assistance to graduates who pursue careers in nonprofit and public-sector organizations. It pays a portion of a qualifying graduate’s Ross-related, need-based loan obligations while the graduate is employed full time in a position within the public or nonprofit sectors (subject to annual reapplication and review).

  • U.S. citizens and U.S. permanent residents are eligible for the program.
  • Applicants must be employed full time in the nonprofit/public sector.
  • The program provides assistance in repaying educational loan obligations.
  • Download a table of historical LRAP award amounts.
  • 2019 LRAP Application now closed. The 2020 LRAP Information and Application Form will be available September 1, 2019 through November 1, 2019. 

International Students

Federal Aid for Graduate International Students

Federal regulations and University of Michigan policy limit the types of U.S. federal financial assistance available to international students. Specifically, international students with F-1, F-2, J-1, J-2, and G series visas are not eligible for federal student aid.

You may qualify for student financial aid programs if you meet one of the following criteria:

  • If you are a U.S. permanent resident with an Alien Registration Receipt Card (I-151, I-551, or I-551C)
    • If you have only a Notice of Approval to Apply for Permanent Residence (I-171 or I-464), you are not eligible for federal student aid.
  • If you are a U.S. national (includes natives of American Samoa or Swain's Island)
  • If you are an eligible noncitizen with an Arrival-Departure Record (I-94) from U.S. Customs and Border Protection showing one or more of the following designations:
    • Refugee
    • Asylum granted
    • Indefinite parole and/or humanitarian parole
    • Cuban-Haitian entrant, status pending
    • Conditional entrant (valid only if issued before April 1, 1980)

If you meet the above criteria, you may qualify for federal assistance.


Private Educational Loans

Some U.S. lenders will provide private education loans for international students who have a qualified U.S. co-signer. Some lenders require that the student have a Social Security number prior to applying. To browse a selection of approved lenders, please visit the  FASTChoice Private Education Loans – For International Students site. U-M has not endorsed these programs, but is making the information available to you.

The university adheres to a Code of Conduct for Student Loans that prohibits inducements or incentives by private lenders.

Other Possible Funding Sources:

For information about financial aid and private scholarships for international students contact:

U.S. Veterans

Chapter 33/Post-9/11 GI Bill Program

Ross is proud to support our veterans and military members. If you are 100 percent eligible under Chapter 33/the Post-9/11 GI Bill, the University of Michigan and Ross will cover most of your unmet tuition needs.

The University of Michigan offers in-state tuition status to those who serve. You must apply and provide the appropriate supporting documentation. Information is located on the University of Michigan Office of the Registrar's website in the residency section. Here are some additional sources of information:

The Ross School of Business Office of Financial Aid is a satellite office of the central University of Michigan Office of Financial Aid. The office assists with all aspects of financial aid, from initial application to entering loan repayment. 

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