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Monday, 1 July 2024

How Much Does College Cost in Michigan in 2024?

The cost of college has been rising steadily over the past few decades, and Michigan is no exception. According to the Education Data Initiative, the cost of attending a public four-year college in Michigan is 16% higher than the national average — but the average private college costs 9.7% less than the rest of the country. 

What Michigan colleges cost

The best way to discover the current tuition costs for Michigan colleges is to visit the college’s website. Each college is transparent about the various costs associated with attending that school, but remember that there can also be hidden costs, such as application fees and travel and recreation costs that can creep in.

Here are some more interesting facts about what Michigan colleges cost, based on the most recent information from the Education Data Initiative:

  • The average in-state tuition and fees at a four-year public college is $13,716.
  • Tuition and fees are 55.36% of the total cost of attendance.
  • The room and board average in Michigan is $11.061.
  • The average cost of tuition and fees at a four-year private college is $41,790.
  • In 2019, private college tuition increased by 5.26% over the previous year and increased a further 5.60% in 2020.

Of course, the actual cost of college for your child will vary depending on several factors, including the type of school and your student’s financial aid package. However, the numbers above give you a general idea of what to expect.

 

what-michigan-colleges-cost-in-2024-graphic

Public Colleges

Michigan Technological University tops the Michigan public college tuition chart with in-state tuition at $18,796. The University of Michigan in Ann Arbor is next, with an estimated in-state tuition of $16,896. Michigan State University is also close to the top, with an in-state tuition of $16,522.

The other public four-year colleges in Michigan are all less expensive for in-state tuition and fees. Note that some of these figures are estimates, and some colleges include fees in their tuition rates:

  • Wayne State University: $14,638
  • Central Michigan University: $14,760
  • Northern Michigan University: $13,992
  • Grand Valley State University: $15,140 
  • Ferris State University: $14,000
  • Eastern Michigan University: $15,792
  • Western Michigan University: $15,126  
  • Oakland University: $15,262
  • Saginaw Valley State: $12,150
  • University of Michigan Dearborn: $15,240
  • University of Michigan Flint: $14,890
  • Lake Superior State University: $14,952

Private Colleges

Michigan has many private colleges, too. Typically, private colleges and universities have one rate for both in-state and out-of-state tuition. The costs vary and, although private colleges are more expensive than their public counterparts, they also tend to discount the sticker price to make them more affordable — and more competitive.

And, if you are planning in advance, you can depend on private colleges to publish their tuition rates much earlier in the year, potentially eliminating surprises when it comes to decision time.

Here is a selection of private colleges and universities in Michigan, with their 2024 tuition rates:

  • Hillsdale College: $31,780
  • Kalamazoo College: $60,453
  • Albion College: $56,330
  • Aquinas College: $39,418
  • Lawrence Technological University: $43.710, depending on major
  • Kettering University: $48,470
  • Hope College: $41,500
  • Alma College: $49,282

Planning for college costs

The cost of college can be daunting, but there are several things you can do to plan for it. Start by talking to the financial aid advisor at the colleges your child would like to attend, just to get a sense of what options are available. Use online calculators to estimate your college costs.

You can also find more information about the costs of college by visiting the College Navigator at the National Center for Education Statistics.

Once you have a better understanding of what Michigan colleges cost, you can start to develop a plan to pay for them. This may include applying for scholarships and grants, taking out loans and encouraging your child to work part-time.

It is also important to start saving for college as early as possible. Even a small amount of money saved each month can add up over time. Learn more about the benefits of opening a 529 account and encourage family members to contribute for every birthday and holiday. It’s never too late (or too early) to start saving.

The cost of college is a major concern for many families. Plan ahead and take advantage of the resources available to you — and before you know it, you’ll be helping your child make their college dreams come true.

Content sponsored by Michigan Education Savings Program. Learn more at misaves.org. Find more articles like this at Metro Parent’s Making Your Child’s College Dreams Come True page.



from Metro Parent https://ift.tt/CP37uDl

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