Guideline Budget

Our Guideline Budget represents anticipated expenses for students in each of the four years of medical school at U-M.

These budgets illustrate a modest but adequate cost of living for most students.

  M1
(10 months)
M2
(9 months)
M3
(12 months)
M4
(12 months)
Rent-Heating per month
(assumes double occupancy)
 $780  $780  $780  $780
Electricity per month  $45  $45  $45 $45 
Phone per month  $100  $100  $100 $100 
Food per month  $360  $360  $410  $410
Laundry per month  $50  $50  $50  $50
Recreation & Personal Expenses per month  $175  $175  $175  $175
Travel & Transportation per month**  $360  $360  $550  $550
Clothing per month  $100  $100  $100 $100 
Total living expenses per year  $19,700 $17,730   $26,520  $26,520
         
Uninsured Medical/Dental Expenses per academic year  $450  $450  $520  $520
Books & Journals per academic year  $1,250  $700  $700  $500
Instruments & Supplies per academic year  $750  $150  $450  $150
USMLE Step I & Step II  $0  $580  $580 $0 
USMLE Step II CS  $0  $0  $1,230  $0
USMLE Step II CS Travel  $0  $0  $0  $500
         
Total resident expenses per year*  $22,150 $19,610   $30,000  $28,190
Total non-resident expenses per year*  $22,900  $20,360  $30,750  $29,940
         
Resident Tuition & Fees*  $30,899  $30,899  $30,590 $30,590 
Non-Resident Tuition & Fees*  $49,215  $49,215  $48,722  $48,722
         
TOTAL RESIDENT EXPENSES (including tuition)  $53,049 $50,509   $60,590  $58,780
TOTAL NON-RESIDENT EXPENSES
(including tuition)
 $72,115  $69,575  $79,472  $77,662

 

Note: Annual figures vary according to length of academic year.

Mandatory health insurance costs are not included in this budget. Health insurance costs may be funded through outside sources upon request.

* Includes estimated 2% tuition increase over 2013-2014 rates. Actual tuition will be set by the Regents of the University of Michigan in June 2014. If tuition is less, the budget will be adjusted to reflect the decrease. Financial aid monies will be reduced from the second disbursement (Winter 2015) of financial aid.

** Budget includes an additional $750 transportation allowance for non-residents.

This budget is subject to change.