How rich are UMich students?

Students at the University of Michigan (UMich) come from a diverse range of socioeconomic backgrounds, but many of them hail from relatively affluent families. The median family income for UMich students is approximately $154,000, which places them in the 80th income percentile nationally. This indicates that a significant portion of the student body comes from families that are financially well-off compared to the general population. Furthermore, about 1.1% of students come from families in the top 0.1% of income earners, while 9.3% come from families in the top 1%. These statistics suggest that while UMich is accessible to a variety of students, a notable percentage of its student population is from higher-income backgrounds, reflecting the university's reputation and the resources available to its students.