Have you run the net price calculator and is the result within your budget?
"This Net Price Calculator (NPC) will help you explore the cost of a University of Michigan, Ann Arbor education and help you make informed decisions as you plan for college. The NPC will help you estimate your eligibility for financial aid and approximate your out-of-pocket expenses as a degree seeking, full-time student at the University of Michigan.
To help you respond to our questions, we recommend that you have your federal income tax forms or a recent pay stub, and bank statements available for you to reference when responding to our questions."