<p>We often read about students complaining about how expensive Michigan is. Yes, it is expensive. I always admit as much. However, I also always try to bring attention to the fact that relative to other top 25 universities, Michigan isn't expensive.</p>
<p>Below is the latest study on the most expensive collegesin the US. As usual, Michigan did not make the top 25 list. I am willing to bet that Michigan would not even make the top 50 list. </p>
<p>Even among state universities, when you take cost of living into consideration, there are at least 5 or 6 other state universities that are roughly as expensive as Michigan (give or take $5,000/year).</p>
<p>Honestly, I think Michigan OOS is more than worth its hefty pricetag. It's such an amazing school in practically every aspect - academics, social life, etc and there are so many opportunities (almost too many). I'm getting my money's worth, that's for sure.</p>
<p>I think the availability of loans, massive increase in endowment over the last few years have contributed to the rise in tuition and fees. Schools charge certain amount of tuition because they know they can. Plus there's this general sentiment among consumers that more expensive=higher quality. Schools like Harvard, should really be totally free to everyone that gets in, the size of harvard college compared to the endowment size is just ridiculous, why do they not do this? my theory is that they know people are willing to pay for it.</p>
<p>^ but harvard does have a pretty good financial aid program, and a lot of students there come from middle class families that need all the money they can get for college</p>
<p>Most private schools now offer a better financial package than Michigan offers to in-state students. My friend who goes to Harvard says that H was half the price of Michigan in-state EVEN WHEN he got an LSA scholarship. So yeah. Michigan is pretty expensive.</p>
<p>Harvard is pretty special ring-of-fire. First of all, Harvard is one of just 4 or 5 universities in the US that is actually better than Michigan, so it is worth spending more to attend. But on top of that, Harvard's endowment allows it to give out as much aid as possible. If I recall, Harvard will cost only 10% of a family's income if it is under $200K/year. That's pretty amazing. </p>
<p>This said, as a matter of pure fact, the average indebtedness of Michigan graduates is one of the lower ones. To those who can afford colleges, Michigan is a bargain. To those who cannot afford colleges and require aid, Michigan is neither a bargain, nor is it rip-off.</p>
<p>And no, "most" private schools do not offer better financial aid than Michigan. Maybe to random indiiduals, but then, to other random individuals, Michigan offers more money. Only schools with endowments per student over $1 million will you have significantly more generous aid. Overall, only a half dozen universities graduate students with significantly less debt than Michigan.</p>
"Better" in what regard? I do agree that Harvard is a better school than UMich, but I feel like your scope of 4-5 universities is somewhat narrow. How do you define "better" and why does Harvard magically meet this criteria while UPenn, Dartmouth and Duke for instance do not?</p>
<p>Ring<em>of</em>fire, I am referring to the big picture. There are only 4-5 universities that are better than Michigan and maybe another dozen or so that are equal to Michigan. I am not referring to statistical data of course, since those are often manipulated and meaningless. I am referring to more important factors, such as quality of faculty, quality of departments, quality of facilities, quality of resouces, reputation in the academic world and reputation in the corporate world. In all of those ways that matter, Michigan is one of the top 10 or top 15 universities in the nation.</p>