Program Expenses

Full-Time MBA Tuition
(Per Academic Year)
Michigan Resident 
(in-state)
$59,350
Non-Resident 
(out-of-state)
$64,350

In addition to tuition, all Full-time MBA students may borrow funds to cover the following approved other costs.

Registration Fees $328
Books and Supplies $1,716
Food and Housing $14,676
Personal Expenses (including health care Insurance) $5,698
Loan Fees $222

Dates & Deadlines

TERM TUITION DUE DATES
Fall August 31, 2016
Winter Always first day of University of Michigan winter term.January 4, 2017

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.

SCHOLARSHIPS

Full-Time MBA Students

You are considered for scholarships when you apply to the Full-Time MBA Program, and you are notified of any award when you are admitted. This applies to U.S. citizens, permanent residents, and international students.

  • 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 $5,000 to full tuition.

The Ross Financial Aid office also posts various specific scholarship opportunities throughout the year. Many of the scholarships are need based. Ross MBA students (U.S. citizens and permanent residents) are encouraged to complete the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov  to be considered for all scholarships. Target email notifications will be sent to students when scholarship opportunities are available.

In addition to these general scholarships, Ross also offers scholarships for admitted students interested in specific areas:

  • The Tauber Institute for Global Operations offers a number of scholarships to students in that program.
  • No separate application is required (although you must be admitted to the program).
  • All students are considered.
  • Award recipients are notified of selection after admission to the program.
  • The Erb Institute for Global Sustainable Enterprise offers MBA/MS students funding, awarded both before enrolling at UM  and after joining the dual degree program (various achievement awards and fellowships).
  • For recruitment scholarships, you may apply once you have been admitted to either Ross or the School of Natural Resources and Environment, and have submitted a complete application to the other school.  Award notifications are usually made within one month of application.

Educational Loans & Financial Assistance

International Student Funding Options

A no-cosigner loan is available to MBA and Masters of Supply Chain Management international students. In addition, many countries provide loans or scholarships specific to their citizens. Download a list of funding options for international students.

Federal Aid for Graduate International Students

Federal regulations and University of Michigan policy severely 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.

Non-U.S. citizens may qualify for student financial aid programs if they are one of the following:

  • 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.
  • A U.S. national (includes natives of American Samoa or Swain’s Island)
  • An eligible non-citizen with an Arrival-Departure Record (I-94) from the U.S. Immigration and Naturalization Service 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)

Note:  Citizens of the Federated States of Micronesia, the Republic of the Marshall Islands, and the Republic of Palau are eligible only for Federal Work-Study

Below is the list of banks that provide educational loans.

Citizens Bank*
cuStudentLoans  (Lendkey.com)
Digital Federal Credit Union
Discover Student Loans*
Edaccess Loan Program
MBA Student Loan (CommonBond)
PNC Bank
Sallie Mae Smart Option Student Loan
Sun Trust Custom Choice Loan
University of Michigan Credit Union (undergraduate)
Wells Fargo*
*Citizens Bank, Discover Student Loans, Salllie Mae Smart Option Student Loan and Wells Fargo do not require international students to have a Social Security number prior to applying for a private education loan

Eligibility Criteria Loan Terms
Non-need-basedStudent must be enrolled at least half-time in degree programBorrower must be a U.S. citizen or eligible noncitizenBorrow may be required to have a cosigner Fees from 0-12%, depending on borrower’s credit. Some have origination fees.Loan amounts often are cost of attendance minus financial aid offered. Sometimes set by school. Often include a yearly and/or cumulative cap (as high as $250,000 for undergraduates).Interest rates generally PRIME -1% to +7.75% or LIBOR +1% to +8%Repayment term ranges from 0-25 years, depending upon amount of loanInterest rates, fees, and loan limits depend upon borrow/cosigner credit history, loan options, and repayment schedule. Having a cosigner may reduce interest rate and loan fees