Online MBA Tuition Cost for 2023 – 2024
Online MBA students will be charged based on total number credits enrolled each semester. Since this is a self paced program, with no set enrollment schedule, please review the Online MBA Tuition per Credit Hour Cost Sheets to calculate your tuition charge based on your individual enrollment plan.
2023 – 2024 Online MBA Tuition Cost Sheet:
- In-State Residency Fall 2023 – Winter 2024
- In-State Residency Eight Weeks Spring 2024 OR Summer Terms 2024
- Out-of-State Residency Fall 2023 – Winter 2024
- Out-of-State Residency Eight Weeks Spring 2023 OR Summer Terms 2023
The 2023 – 2024 tuition rates were approved by the University of Michigan Board of Regents in June 2023. 2024 – 2025 tuition rates and cost of attendance budget will be available July 2024.
All registered students will be charged for the mandatory registration fees per term. Class fees are dependent on the registered classes. For information on current tuition and fee rates, please visit the Office of the Registrar website.
Online MBA Cost of Attendance (COA) Budget for Fall 2023 – Winter 2024
|Estimated Cost:||Michigan Resident||Non Resident|
|Tuition at 4.5 credits ***||$18,333||$19,908|
|Books and Supplies||$812||$812|
|Food and Housing||$18,704||$18,704|
|Personal (including Health Care Insurance)||$6,820||$6,820|
|Federal Loan Fees||$224||$224|
|Estimated Cost of Attendance Total||$44,893||$46,468|
***Tuition rate shown in cost of attendance are based on the assumption of 4.5 credits of enrollment per term. If you plan to be enrolled greater than or less than 4.5 credits, please refer to Tuition per Credit Hour Cost Sheet to calculate your actual tuition cost per term.***
Cost of Attendance (COA) Budget
A student’s financial aid is awarded based on the Cost of Attendance budget. You can borrow up to the Cost of Attendance budget; less other aid (such as scholarships and department aid) to cover the other budget expenses.
Students enrolled less than 4.5 credits will be subject to a budget adjustment. Financial Aid will identify the students that are less than 4.5 credits after the University’s first initial Add/Drop date of the semester, and adjust student’s Cost of Attendance to match that of actual tuition charge on account, which may result in a reduction of awarded aid if awarded full cost of attendance. If you are only borrowing enough to cover tuition and fees only, you do not have to contact Ross Financial aid to increase your budget as you can borrow against the other items in the budget.
To learn more about the University’s Add/Drop date, visit the Registrar’s website and click on “Calendars”> checkbox “Registration Deadlines”> select an “Academic Term” and hit Submit to view the University’s registration deadlines.
Sometimes the standard estimated Fall and Winter Cost of Attendance does not realistically meet a student’s actual expenses. Students that are in need of additional aid beyond the standard estimated Cost of Attendance budget, may want to seek a Budget Re-Evaluation.
Online MBA Cost of Attendance Budget for Spring 2024 and/or Summer 2024
Spring or Summer Cost of Attendance (COA) budget will be dependent on the student’s enrollment plan. Please contact us at email@example.com with your enrollment plan and your UMID number in regards to your Spring and/or Summer budget.
Loans and registration requirements for disbursement
Federal loan programs and most private loans will require a minimum of half time enrollment for borrowing eligibility. This means you must have at least 4 credits of enrollment to borrow loans against a given semester.
- Fall term: 4 or more credits hours
- Winter term: 4 or more credit hours
- Spring and/or Summer terms: 4 or more credit hours.
- This can be within one term (Spring or Summer) or it can be combined between the terms. If a student is to register for 2 credits in Spring, then the student must be registered for 2 or more in Summer term. They are separate overall but for financial aid, they considered one full term. For an example: If a student was to only register for Spring term, to be considered for disbursement of aid, then you must be registered for 4 or more credits.
Employer support information
OMBA students with employer sponsorship to cover full or part tuition by their employers, can have the University of Michigan bill the employer for them to pay the coverage to the school. Sponsored students are those students that are registered and require for the University of Michigan Student Financial Services to bill an outside sponsor for tuition and fees while they attend the University of Michigan. Student Financial Services will process deferred third-party billing of tuition and fees to businesses, governments, agencies and organizations desiring to sponsor a student at the University of Michigan.
UM Student Financial Services – Sponsored Account Team Information:
- Phone: 734-764-7447
- Fax: 734-647-0061
- Email: firstname.lastname@example.org
- Website: finance.umich.edu/finops/student/sponsoredstudents
Employer Support with a Tuition Reimbursement coverage:
A student’s employer that will covered tuition in full or partial as a tuition reimbursement after grades are released, they will want to explore the Ross Short Term Reimbursement Loan. This is a 3% loan that you apply for prior to the start of the semester. The loan funds would be used to pay towards only tuition prior to the term ending and grades being released for reimbursement. The loan would be due 2 months after the end of the borrowing semester.
The University of Michigan bills all registered students for tuition and registration fees.
- All registered students will be charged for the mandatory registration fees per term.
- Class fees are dependent on the registered classes.
- Billing and payments are handled by the Student Financial Services.
Students who believe their residency status should be In-state (Michigan Resident) and not Out-of-state (Non-Resident), will want to contact the Residency Classification Office. Phone: (734) 764-1400 Email: email@example.com
Please contact Ross Financial Aid if you have any questions regarding financial aid or other questions. Be sure to include your UMID number in all correspondence with our office.
The Ross School of Business Office of Financial Aid is a satellite office of the University of Michigan Office of Financial Aid.