Overview
A link to the Financial Planning Calculators is on the Student Center.
The Financial Planning Calculators consist of three pages, starting with a welcome page for selecting a school year/term and housing option for estimating the student's bill. There are two different calculators available from the welcome page, and each of these calculators provide links to related Wolverine Access pages and to important U-M Office Web sites:
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Bill Estimator: This is used to calculate an early estimate of the student's first bill for the Fall or Winter term. It lists the student's estimated charges and credits, with the option to update some values (e.g., Housing amount) in order to re-calculate the estimated bill with new or updated information.
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Private/PLUS Loan Calculator: This identifies the private/PLUS (Parent Loan for Undergraduate Students) loan amount for which the student is eligible. The eligible loan amount is based on the Budgeted Cost of Attendance for the Academic Year minus the student's total financial aid amount for that School Year.
Step-By-Step Instructions
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If the School Year / Term and Housing Option fields do not display the values for which you want to estimate the bill, select applicable values from the drop-down lists.
Note: If a message indicates the calculators are not available, follow the message instructions or contact the applicable Financial Aid office with questions.
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Click CALCULATE ESTIMATED BILL or CALCULATE ALTERNATIVE/PLUS LOAN ELIGIBILITY to use one of the calculators.
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Review the estimated amounts.
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If necessary, click the applicable link in the Related Link column to review related information for each category.
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If necessary on the Bill Estimator page, enter/update the values in the editable fields (e.g., Housing), and click CALCULATE to re-calculate the bill.
- Click the applicable link/button to continue:
- To use a different calculator, click CALCULATE ESTIMATED BILL or CALCULATE ALTERNATIVE/PLUS LOAN ELIGIBILITY at the bottom of the page.
- To change the School Year/Term and/or Housing Option values, click PLANNING CALCULATOR to return to the welcome page.
Field Descriptions
To view examples and descriptions, click the following links to expand each item.
Welcome Page
| Letter | Field/Button | Description |
|---|---|---|
| A | School Year/Term | The School Year/Term options in the drop-down list only include those that have been budgeted and setup as active in the system. |
| B | Housing Option | The Housing Option defaults based on the student's grade level:
You may select different option from the drop-down list. The options are:
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| C | Calculate Estimated Bill | Opens the Bill Estimator page. |
| D | Calculate Private/PLUS Loan Eligibility | Opens the Private/PLUS Loan Calculator page. |
Bill Estimator
| Letter | Field/Button/Section | Description |
|---|---|---|
| A | Estimate Rate Calculation text description | This text identifies the student's residency, grade level, and academic career that determine the rates used by the calculations. |
| B | Tuition and Fees | Displays the estimated Tuition and Fees for full-time enrollment in the term. |
| C | Registrar's Office | The related link opens the Office of the Registrar website that lists the Tuition and Fees amounts for different Schools and Colleges at: www.umich.edu/~regoff/tuition. |
| D | Housing | Displays the estimated 1-Term Housing amount for the standard single, double, or triple room options. A blank field displays for "Other University Housing." If applicable, this field should be updated to reflect the 1-Term amount of the student's actual University Housing option. No estimated charges display for the Housing Option of "Not in University Housing." |
| E | Adjust Housing Charges | Opens the Housing website where you can find the 2-Term Housing amounts at: www.housing.umich.edu. |
| F | Orientation Fee | Displays only to Freshmen in both the Fall and Winter terms. If the student will not attend orientation for the term, the amount should be deleted. |
| G | Office of New Student Programs | Opens the Office of New Student Programs website with information about orientation. |
| H | Other Charges | Available for you to enter other university charges that will be included in the bill. |
| I | TOTAL CHARGES | Displays the estimated total charges for the term. To update this amount to reflect edits made to the Est. Amount fields, click the Calculate button at the bottom of the page. |
| J | Grants/Scholarships | If the student has grants or scholarships in his/her financial aid package, the estimated amount that has been officially awarded to the student displays here. |
| K | Financial Award Summary | Opens the Financial Aid Award Summary page in Wolverine Access that lists the student's grants/scholarships. |
| L | Loans | If the student has loans in his/her financial aid package, the estimated amount that has been officially awarded to the student displays here. If the student paid his/her enrollment deposit in the selected term, a row displays below the Loans row with the amount of the enrollment deposit. |
| M | NET ESTIMATED BILL | Displays the estimated amount of the student's bill for the term. |
| N | Payment Options | The related link opens the OFA website that details the payment options. |
| O | Report Additional Aid | Opens the student's Accept/Decline Financial Aid pages in Wolverine Access so the student can accept awards or report additional aid. Note: This link works for the student, not for authorized family. |
| P | PLANNING CALCULATOR | Opens the Welcome to Financial Planning Calculators page. |
| Q | CALCULATE | Clicking this button re-calculates the estimated bill after editing the amounts in the Estimated Charges section. |
| R | CALCULATE PRIVATE/PLUS LOAN ELIGIBILITY | Opens the Private/Plus Calculator page. |
| S | PAYMENT PLAN | Opens the Academic Management Services (AMS) website with information about the U-M Monthly Payment Plan. |
Private/PLUS Loan Calculator
Contact Information
Please visit the UM Financial Aid Contact Information Website for links to UM's financial aid offices.