Tuition & Financial Aid

  Michigan Residents Non-Michigan Residents
Online MBA Tuition
(estimated total for 57 credits)
$112,731 $123,088
     
Cost Per Credit Hour    

First credit hour

Additional hours

$1,766

$1,930 

$1,941

$2,105

The 2018 - 2019 tuition rates were approved by the University of Michigan Board of Regents in June 2018. Estimated 2019 - 2020 tuition rates will be posted in July 2019. All tuition rates are subject to Regents’ approval and change. To view tuition and fee updates, please visit the Office of the Registrar.


Other Costs

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

(Per Academic Year)

Books & Supplies: $756

Loan Fees: $222

The above cost of attendance budget was finalized by the University of Michigan Regents in June 2018. The estimated 2019 - 2020 cost of attendance budget will be posted in July 2019.

Disclaimer: The Ross School of Business Office of Financial Aid is a satellite office of the University of Michigan Office of Financial Aid.


Tuition Dates & Deadlines

TERM TUITION DUE DATES

Fall: Aug. 31, 2018

Winter: Jan. 9, 2019

Spring: April 31, 2019

Summer: June 30, 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

Ross School of Business scholarship opportunities for the Online MBA program are limited and are included with the Offer of Admission letter. Prospective Online MBA students are not required to submit any additional application materials to be considered for these limited opportunities.

Employer-Sponsored Tuition Assistance

More than half of the students in our part-time MBA programs receive some sort of financial assistance from their current employer. If you'd like to pursue this possibility with your company, please see our company sponsor page to read more about the benefits of sponsorship.

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 may be 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). 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. A student may borrow up to the amount of the cost of attendance, minus any other financial assistance the 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 seeking private loans 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 four weeks to process loans through our office.

If you are considering borrowing through 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.

The university adheres to a 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 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 (LRAP) 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.
  • The 2019 LRAP Application is now closed. The 2020 LRAP Information and Application Form will be available Sept. 1 through Nov. 1, 2019.

U.S. Veteran and Active Duty Military Candidates

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, including your Veterans Administration Certificate of Eligibility. 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 University of Michigan Student Veterans Assistance Program

Chapter 33 application 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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