U-M has one of slowest rates of growth in cost nationwide
A new college affordability ranking released this week shows U-M has one of the nation’s slowest rates of growth in costs among the nation’s four-year public universities.
The university improved its college affordability rankings by dropping lower in each of four categories featured in the second annual College Affordability and Transparency Lists. The second annual release of the information was made Tuesday by the U.S. Department of Education.
U-M ranked 520th in the percent increase in tuition and fees, and 568th in the percent increase in net price out of a total of 650 four-year, public institutions. The other categories of rankings are tuition and fees and net price.
The university achieved this ranking while cutting costs by $235 million since 2004, investing in double-digit increases in financial aid during six of the past seven years and holding tuition increases to an average of 5 percent over the last five years.
Among the 22 public and private peer institutions — the ones with which U-M primarily competes for students and faculty — U-M ranks as No. 16 in net cost (seventh from the bottom). Among the 15 state public universities, U-M is No. 3 in net cost, following Michigan Tech and Michigan State.