Our Guideline Budget represents estimated expenses for students in each of the four years of medical school at U-M.
These budgets illustrate a modest but adequate cost of living for most students.
2023-2024 ESTIMATED GUIDELINE BUDGET FOR STUDENTS
Sci Trunk (12 months) |
Clin Trunk (12 months) |
Branch 1 (12 months) |
Branch 2 (8 months) |
|
|---|---|---|---|---|
Rent-Heating per month |
$1,550 |
$1,550 |
$1,550 |
$1,550 |
Utilities (Electric, Phone, Internet) per month |
$250 |
$250 |
$250 |
$250 |
Food per month |
$400 |
$500 |
$500 |
$500 |
Personal/Misc per month |
$250 |
$250 |
$250 |
$250 |
Wellness per month |
$100 |
$100 |
$100 |
$100 |
Travel & Transportation per month** |
$250 |
$450 |
$450 |
$450 |
Total living expenses per year |
$33,600 |
$37,200 |
$37,200 |
$24,800 |
Uninsured Medical/Dental Expenses per academic year |
$1,200 |
$1,200 |
$1,200 |
$800 |
Books per academic year |
$1,000 |
$250 |
$0 |
$0 |
Tech Allowance per academic year |
$0 |
$500 |
$0 |
$50 |
Step Study Materials per academic year |
$100 |
$1,150 |
$0 |
$0 |
Instruments & Supplies per academic year |
$150 |
$100 |
$101 |
$100 |
USMLE Step 1 |
$0 |
$660 |
$0 |
$0 |
USMLE Step 2 CK |
$0 |
$660 |
$0 |
$0 |
Unsubsidized Stafford Loan Origination Fees |
$499 |
$498 |
$498 |
$428 |
Total annual expenses |
$2,949 |
$5,018 |
$1,799 |
$1,378 |
Total resident expenses per year |
$36,549 |
$42,218 |
$38,999 |
$26,178 |
Total non-resident expenses per year |
$37,049 |
$42,719 |
$39,500 |
$26,678 |
Resident Tuition & Fees* |
$53,218 |
$53,218 |
$53,218 |
$35,478 |
Non-Resident Tuition & Fees* |
$72,268 |
$72,268 |
$72,268 |
$48,178 |
Total Resident Guideline Budget |
$89,767 |
$95,436 |
$92,217 |
$61,656 |
Total Non-Resident Guideline Budget |
$109,317 |
$114,987 |
$111,768 |
$74,856 |
Mandatory health insurance costs are not included in this budget. Health insurance costs may be funded through outside sources upon request.
* Includes an estimated increase of 5% resident and 3% non-resident tuition over 2022-2023 rates.
** Guideline budget includes an additional $500 transportation allowance for non-residents.
THIS BUDGET IS SUBJECT TO CHANGE