RANK: 1 Next
Overall Score: 89.41

University of Michigan

Ann Arbor, MI
A perennial top performer in Money’s rankings, Michigan shines in each of the three areas our team evaluates: Affordability? For in-state students, the price of a degree from Michigan is less than that of 600-some colleges in our rankings. Quality? At 93%, the university has one of the highest graduation rates in the country, and one of U-M's top annual awards recognizes faculty members committed to undergraduate teaching. Student outcomes? Graduates’ salaries are well above average, and the job placement rate is high. Michigan shines in other ways, too. The university’s Division I athletics are first-rate, and the Wolverines have notched more than 50 national championships. During home football games in the fall, hordes of student fans pack into “The Big House” to cheer their team on. Even U-M’s location is stellar. Ann Arbor is a quintessential college town, offering an impressive number of music venues, restaurants, museums and theaters. The result of all that excellence is a loud, proud community that, among other accolades, can claim an alumni association chapter on the moon. (The crew of Apollo 15, all U-M grads, established a club charter there in 1971.)


Est. full price 2022-2023
% of students who get any grants
Est. price for students who receive aid
Average price for low-income students


Acceptance rate
Median SAT/ACT score
SAT/ACT required?
Undergraduate enrollment

Financial Aid

% of students with need who get grants
% of need met
% of students who get merit grants
Average merit grant

Student Success

Graduation rate
Average time to a degree
4.2 years
Median student debt
Early career earnings
% earning more than a high school grad

Notes: Students who get merit grants are full-time undergraduates who had no financial need and were awarded grants. Graduation rate measures degree completion within six years for both transfer students and first-time students. Early career earnings are the median earnings for both graduates and non-completers, 10 years after they first enrolled.

Sources: U.S. Department of Education, Peterson’s, Money/Witlytic calculations.

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