Guideline Budget

Our Guideline Budget represents estimated 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

(12 months)

M2

(11 months)

M3

(10 months)

M4

(12 months)

Rent-Heating per month

(assumes double occupancy)

$815

$815

$815

$815

Electricity per month

$40

$40

$40

$40

Phone, Internet, Cable

$65

$65

$65

$65

Food per month

$360

$360

$410

$410

Recreation & Personal Expenses per month

$200

$200

$200

$200

Travel & Transportation per month**

$360

$360

$560

$560

Clothing per month

$100

$100

$100

$100

Total living expenses per year

$23,280

$21,340

$21,900

$26,280

         

Uninsured Medical/Dental Expenses per academic year

$615

$615

$615

$615

Books & Study Materials per academic year

$1,000

$1,250

$0

$0

Instruments & Supplies per academic year

$150

$100

$100

$100

USMLE Step I

$0

$610

$0

$0

USMLE Step II CK

$0

$610

$0

$0

USMLE Step II CS

$0

$1,285

$0

$0

USMLE Step II CS Travel

$0

$0

$500

$500

         

Total resident expenses per year*

$25,045

$25,810

$23,115

$27,495

Total non-resident expenses per year*

$25,795

$26,560

$23,865

$28,245

         

Resident Tuition & Fees*

$37,830

$37,830

$37,830

$36,955

Non-Resident Tuition & Fees*

$56,940

$56,940

$56,940

$55,917

         

TOTAL RESIDENT EXPENSES (including tuition)

$62,875

$63,640

$60,945

$64,450

TOTAL NON-RESIDENT EXPENSES (including tuition)

$82,735

$83,500

$80,805

$84,162

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

* Includes estimated 5% tuition resident and 3.8% non-resident increase over 2017-2018 rates. Actual tuition will be set by the Regents of the University of Michigan in June 2018. If tuition is less, the budget will be adjusted to reflect the decrease. Financial aid monies will be reduced from the second disbursement (Winter 2019) of financial aid.

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

This budget is subject to change. 1/18/18