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

(11 months)

M2

(10 months)

M3

(12 months)

M4

(12 months)

Rent-Heating per month

(assumes double occupancy)

$790

4790

$790

$790

Electricity per month

$45

$45

$45

$45

Phone per month

$110

$110

$110

$110

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

$21,890

$17,910

$26,760

$26,760

         

Uninsured Medical/Dental Expenses per academic year

$550

$450

$600

$600

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

$600

$600

$0

USMLE Step II CS

$0

$0

$1,275

$0

USMLE Step II CS Travel

$0

$0

$0

$500

         

Total resident expenses per year*

$24,440

$19,810

$30,385

$28,510

Total non-resident expenses per year*

$25,190

$20,560

$31,135

$29,260

         

Resident Tuition & Fees*

$34,340

$34,340

$33,548

$33,548

Non-Resident Tuition & Fees*

$52,686

$52,686

$51,934

$51,934

         

TOTAL RESIDENT EXPENSES (including tuition)

$58,780

$54,150

$63,933

$62,058

TOTAL NON-RESIDENT EXPENSES (including tuition)

$77,876

$73,246

$83,069

$81,194

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 5% tuition resident and 3% non-resident increase over 2015-2016 rates. Actual tuition will be set by the Regents of the University of Michigan in June 2016. If tuition is less, the budget will be adjusted to reflect the decrease. Financial aid monies will be reduced from the second disbursement (Winter 2017) of financial aid.

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

This budget is subject to change. 1/21/16

rev. 3/2/16