University of Michigan is a top value

The University of Michigan has moved up on the Kiplinger list of 100 Best Values in Public Colleges 2009-10, advancing to 19th as a value to in-state students and 24th for out-of-state students.

The university ranked 26th and 28th, respectively, in the two categories in the 2008-09 ranking.

Among Big Ten schools on the list, U-M ranked second behind the University of Wisconsin at Madison.

The ranking highlights colleges and universities that deliver a quality education at an affordable level, “by keeping the sticker price low, offering plenty of financial aid, or both,” according to a story in the February issue of Kiplinger’s Personal Finance magazine.

The total cost for an in-state student at U-M this school year is $21,631, and the average cost for a student with financial aid is $12,273. Total costs for an out-of-state student is $44,909, and the average cost for an out-of-state student with financial aid was $35,551.

In June the Board of Regents approved a budget for FY 2010 that includes $118 million in centrally awarded financial aid, including an 11.7 percent increase in aid for undergraduates. It is the largest investment in central need-based financial aid in U-M history.