Michigan has 40 private and 21 public 4-year colleges that enroll 48,302 first-year students yearly. The average tuition of public colleges is $23,183 for in-state students and $31,623 for out-of-state and international students.

Private colleges in Michigan charge around $31,964 per year in tuition regardless of residency.

In the 2021-2022 academic year, Michigan provided $25.7 million in financial aid to 8,222 students who enrolled in 4-year colleges for the first time as undergraduates. In addition, the colleges themselves awarded $410.6 million in grants and scholarships to 36,622 students.

Michigan receives 1.4% of the total pell grant the federal government allocates. In the 2021-2022 academic year, 14,748 4-year college first-year undergraduates were awarded a total amount of $74.7 million in pell grant ($4,909 per student on average), and 21,268 students received a total amount of $113 million in the form of student loans from the federal government ($5,338 per student on average).