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In the cost and funding tips for Ross Full-time MBA program we cover:
- Tuition Fees (1 Year - Ross MBA)
- Total Cost (Ross MBA) (1 Year)
- Total Cost (Ross MBA) (2 Years)
- Ross MBA Cost: 2023-24 vs. 2024-25
- Ross MBA Financial Aid
- Merit-Based Scholarship
- Focused Scholarship
Tuition Fees (1 Year - Ross MBA)
Ross's MBA tuition fee for one year is $73,030 for Michigan residents, whereas $78,030 for non-Michigan residents or international students.
Total Cost (Ross MBA) (1 Year)
One year MBA program costs Ross students $102,642 for Michigan Residents and $107,642 for non-Michigan residents and International students. One year MBA cost for Michigan Ross includes Tuition Fees ($73,030 for Michigan nationals and $78,030 for Non-Michigan Residents/International students), Mandatory Fees ($166.19), International Student Service Fees ($500, only for international students), Books and Supplies ($1,896), Food and Housing ($19,826), Personal ($7,000), and Loan Fees ($224).
Total Cost (Ross MBA) (2 Years)
The two-year MBA cost or the entire MBA program cost at Michigan Ross is $205,284 for Michigan Nationals and $215,284 for Non-Michigan Nationals.
Below is a table compiled with the one-year Ross MBA cost breakdown
| Cost | Ross MBA Cost (2024-25) |
| Tuition | $73,030 ($78,030 for Non-Michigan Residents/International students) |
| Mandatory Fees | $166.19 |
| International Student Services Fee | $500 |
| Books & Supplies | $1,896 |
| Food & Housing | $19,826 |
| Personal | $7,000 |
| Loan Fees | $224 |
Ross MBA Cost: 2023-24 vs. 2024-25
The comparison of the Ross MBA costs between the academic years 2023-24 and 2024-25 shows a general upward trend in expenses across various categories. Starting with tuition, the cost for Michigan residents increased from $70,392 in 2023-24 to $73,030 in 2024-25, reflecting a 3% increase. For non-Michigan residents and international students, tuition rose from $75,392 to $78,030, indicating a 3.5% increase.
In terms of mandatory fees, there was no change, with costs remaining steady at $166.19. Similarly, the international student services fee remained constant at $500.
Books and Supplies: Regarding books and supplies, expenses increased slightly from $1,844 to $1,896, representing a 2.8% rise. The food and housing cost also experienced a notable increase, rising from $18,704 to $19,826, which corresponds to an increase of 6%.
Personal expenses saw a modest increase as well, going from $6,820 to $7,000, marking a 2.6% rise. Finally, loan fees remained unchanged at $224.
Overall, the total cost reflects a modest increase in the expenses when you consider the inflation, with the most significant rise seen in the food and housing category.
| Cost | Ross MBA Cost (2023-24) | Ross MBA Cost (2024-25) |
| Tuition | $70,392 ($75,392 for Non-Michigan Residents/International students) | $73,030 ($78,030 for Non-Michigan Residents/International students) |
| Mandatory Fees | $166.19 | $166.19 |
| International Student Services Fee | $500 | $500 |
| Books & Supplies | $1,844 | $1,896 |
| Food & Housing | $18,704 | $19,826 |
| Personal | $6,820 | $7,000 |
| Loan Fees | $224 | $224 |
Read: Ross MBA Cost Trends
Ross MBA Financial Aid
Loans: Federal Direct Grad PLUS Loans and Federal Direct Unsubsidized Loans are two types of federal government loans that students may be qualified for.
The maximum borrowing amount for the non-need-based Federal Direct Unsubsidized Loan is $10,250 per semester. Although the Federal Direct Grad PLUS Loan does not require any need basis, it does require approval after a credit check. Applicants can borrow up to the cost of attendance, less any other financial aid.
Many different banks and other lenders provide private student loans. Students must submit a separate application to a specific lender for private loans in addition to their financial aid application. Borrowers with good credit, or those with a cosigner with good credit, are typically given the best rates on these loans.
Other Aid
Assistantships: Graduate student staff assistantships, instructor positions, and research assistantships are considered separately from the financial aid application process.
U-M Child Care Subsidy: Students with children can receive financial aid through the U-M Child Care Subsidy Program to help cover the cost of a licensed daycare center.
Loan Repayment Assistance Program: Graduates of the Ross degree programs who took out student loans while earning their degree at Ross are supported by several Michigan Ross and federal government programs.
International Students: The sorts of U.S. government financial aid available to international students are restricted by federal restrictions and University of Michigan policy. Federal student financing is specifically ineligible for overseas students with F-1, F-2, J-1, J-2, and G series visas.
If an eligible co-signer from the United States is present, some American lenders will offer private education loans to foreign students. Other lenders will lend money to international students if a co-signer from the United States is unavailable. For some lenders, before applying, the student might also need to have a Social Security number.
US Veteran & Active Duty Military: Those who serve are considered for in-state tuition at the University of Michigan. Applicants must apply together with the required supporting materials. The residency section of the website for the University of Michigan Office of the Registrar contains information.
Merit-Based Scholarship
Applicants are automatically considered for over 200 merit-based scholarships when they apply to the Full-Time MBA program and will be informed of any awards upon admission. Academic process, professional and personal accomplishments, and the potential to benefit the community are considered when awarding prizes. Scholarships can be worth up to the full cost of tuition.
Dean’s Impact Scholars: This scholarship, given to a small number of admitted students, honors a student's exceptional achievements and demonstrates Ross's faith in their ability to use business to impact the world, positively. In addition to receiving a full scholarship for tuition, Dean's Impact Scholarship recipients also receive an annual stipend to help with non-tuition expenses like travel for educational purposes and opportunities for leadership development.
Dean's Fellows: Accepted students chosen to be Dean's Fellows receive full scholarships for their tuition. Throughout their time at Michigan Ross, fellows have the chance to connect with senior alumni leaders from various industries and form special bonds with other fellows and faculty members.
Focused Scholarship Opportunities
Health Innovation Scholars Program (For Healthcare): MBA candidates interested in healthcare can apply for scholarships through the Health Innovation Scholars Program. The program offers a complete scholarship for tuition, grants for professional advancement, and networking opportunities for alumni and cohorts. No separate application has to be submitted. Every applicant who lists healthcare as a desired career interest is considered.
Forte MBA Fellowship (For Gender Equity): MBA applicants of any gender identity who exhibit exemplary leadership and dedication to Forté's mission of uplifting women into fulfilling, significant careers by providing access to business education and a community of successful women are eligible for the Forte Fellowship, which provides funding opportunities and other support structures.
Yellow Ribbon Program (For Military): Since 2009, Michigan Ross has enthusiastically supported the Yellow Ribbon Program without restricting its price or number of participants. For every post-9/11 GI Bill recipient who is completely eligible, the program pays any unmet tuition costs.
The Consortium (For African or Black Americans, Hispanic Americans, and American Indians): The Consortium for Graduate Study in Management's mission is to increase the representation of Black, Hispanic, or American Indians in American business schools and corporate management. This merit-based scholarship is given to candidates who commit to this goal. All U.S. citizens or permanent residents are eligible for the fellowship regardless of race or ethnicity.
One Consortium Fellowship or a Michigan Ross scholarship is available to all applicants who submit their applications through The Consortium.
Romba LGBT+ Fellowship (For LGBT+ groups): The Romba LGBT+ Fellowship offers financing and access to leadership programming to LGBTQIA2S+ aspiring business leaders through Reaching Out MBA. Students who want to apply for the fellowship should let Reaching Out know which colleges they plan to apply to.
Tauber Institute for Global Operations Scholarships (For Operations): Students enrolled in the program are eligible for several scholarships from the Tauber Institute for Global Operations. No separate application needs to be submitted. All Tauber students are taken into account. After being accepted into the program, award recipients are notified of their selection.
Erb Institute Scholarships (For Environmental Sustainability): The Erb Institute provides several funding options. Once applicants have been accepted to Michigan Ross or the School for Environment and Sustainability, they can apply for recruitment scholarships.
True Grit (For Domestic and International Students): Students enrolled in the Full-Time MBA program who have proven to be particularly resilient in the face of adversity are eligible for partial and full-ride scholarships. Students who are obtaining the degree for the first time in their families, who have overcome personal challenges, who have served in the military, or who have, in some other way demonstrated grit.
The Miguel Andrés Sossa-Mardomingo (MÁS) Scholarship Fund (Environmental Sustainability): The Miguel Andrés Sossa-Mardomingo (MÁS) Scholarship Fund supports graduate students pursuing dual degrees in the Ross School of Business MBA program and the School for Environment and Sustainability MS program through the Erb Institute. Miguel aims for this scholarship to inspire diverse leaders to take unconventional paths that protect our planet and secure a sustainable future.
| Scholarships | Eligibility | Awards |
|---|---|---|
| Alumni Board of Governors Award | Need, Merit, and Community Service award | $7500 |
| Ross Community Impact Scholarship | Merit, Leadership | $10,000 |
| McGowan Fellows Program | students who are in the top 5% of their class and are non-dual degree students | full-tuition scholarship for the second year |
| J. Ira Harris Merit Award | Merit based | $5,000 |
| Skip and Carrie Gordon Scholarship | Impact Based | $5,000 |
| The Leslie Adkins Endowed Scholarship | Underrepresented Minorities | $10,000 |
| Zell Lurie Institute Scholarships | Entrepreneurship |
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Reference
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