As for the net cost for attending UM, the actual amount depends on the annual family income of the candidate. The net price is nothing but the actual amount that a student is required to pay in a year. The net cost to be borne is typically higher for candidates whose family income is comparatively higher. Simply put, the family income of the candidate is a key factor in determining the net amount. At UM, the average net price is estimated to be $21,847. The net price for students with an annual family income below $30,000 is reported to be around $13,263. For the individuals who come under the $30,001-$48,000 income category, the net cost is $13,392. The amount stands at $18,654 for an annual income between $48,001 and $75,000, $21,346 for the $75,001-$110,000 income bracket, and $21,357 for a family income above $110,000.