December 19, 2014
Topic: Campus News
U-M maintained its ranking at No. 6 on Kiplinger's list of 100 Best Values in Public Colleges for 2015.
The ranking highlights colleges and universities that combine outstanding education with economic value.
Kiplinger's assesses quality according to measurable standards, including the admission rate, the percentage of students who return for sophomore year, the student-faculty ratio and the four-year graduation rate.
Cost criteria include sticker prices, financial aid and average debt at graduation.
"We salute this year's top schools," said Janet Bodnar, editor of Kiplinger's Personal Finance magazine. "Balancing top-quality education with affordable cost is a challenge for families in today's economy."
The total tuition for an in-state student at U-M this year is $13,486, and 70 percent of in-state undergraduates get financial aid. Total tuition for an out-of-state student is $41,906, and 50 percent of out-of-state undergraduates get financial aid.
In June, the Board of Regents approved a budget for fiscal year 2015 that included a $19.5 million increase in undergraduate financial aid — enough to lower the loan burden by $1,000 a year for in-state undergraduates with financial need from middle-income families.
It also provided for strategic investments in new academic initiatives and the hiring of 60-80 additional faculty members to reduce class sizes.