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Rank: 9

University of Michigan-Ann Arbor

Ann Arbor, MIwww.umich.edu
Who wouldn't want to be a part of an alumni association that has a chapter on the moon? The crew of Apollo 15, all U-M grads, actually established a club charter on the lunar surface. One of the country's most affordable elite schools, the University of Michigan accepts less than a third of the nearly 60,000 students who apply annually. Michiganders who get in receive an especially good deal at the school, which has an annual in-state cost of about $14,500. The National Science Foundation ranks Michigan as the top public research university in terms of money spent on research and development, a position the school has held since 2010. Yet the faculty also prides itself on teaching. Chemistry lecturer Brian Coppola, for example, was named one of the country's top professors of the year in 2009, and one of the university's top annual awards -- the Arthur F. Thurnau Professorship -- recognizes faculty members committed to undergraduate teaching. Sports also permeate campus life. The school's Division I football and basketball teams draw national television audiences as well as hordes of student fanatics; meanwhile, the lesser-known swimming and diving teams both won national championships in 2013 (the men's gymnastics team won in 2013 and 2014). For non-athletes, U-M provides countless clubs and opportunities for civic engagement. And Ann Arbor, a quintessential college town, offers an impressive number of music venues, restaurants, museums and theaters. The university maintains a high graduation rate of 91%, according to MONEY's findings, which is slightly higher than expected for students of similar economic and academic backgrounds. U-M grads also report average earnings of $59,300 in the first three years after college, according to PayScale data.
costs
Est. Full Price 2018-2019
$30,200
% of students who get any grants
51%
Est. price for students who receive aid
$17,300
Average price for low-income students
$2,700
admissions
Acceptance rate
29%
Median SAT/ACT Score
1410/31
SAT/ACT required?
Yes
Enrollment
29,773
Financial Aid
% of students with need who get grants
82%
% of need met
87%
% of students who get merit* grants
15%
Average merit grant
$7,442
student success
Graduation rate
91%
Average time to a degree
4.2 years
Average student debt
$20,100
Average salary within 3 years
$59,300
% of low-income students who become upper middle class
50%
key deadlines
Early decision application
Nov 1
Regular application
Feb 1

* Share of full-time undergraduates who had no financial need and were awarded grants.

Sources: U.S. Department of Education, Peterson's, PayScale.com, MONEY/College Measures calculations, Equality of Oppourtunity Project.

* Share of full-time undergraduates who had no financial need and were awarded grants.

Sources: U.S. Department of Education, Peterson's, PayScale.com, MONEY/College Measures calculations, Equality of Oppourtunity Project.

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