As a current student at Michigan, I can say from personal experience that, in reality, the OOS cost of attending Michigan is in many cases not $67,000 a year for all four years that one attends the school.
Michigan, once a student is enrolled and on campus, is actually quite generous with scholarships and financial aid to OOS students, if you take initiative and go out and find this financial aid. I cannot stress this enough: Michigan does not hand out OOS aid to students during the admission process, and will not often just hand it out to you on campus, but if you search for it yourself, you will find that the school is actually very, very interested in giving you aid.
With that said, here was my personal financial aid experience at Michigan as an OOS student:
Freshman year: Full cost ($63,000, I dont remember the exact number)
Sophmore year: awarded 4 scholarhips from the University after applying for them:
$7,500 alumni scholarship
$2,000 OOS alumni scholarship
$1,500 Ross alumni scholarship
Additionally, housing costs ($12,000 I think was the number I saw this thread using?)
have in reality been around $9500 for me every year after freshman year)
Repeat these numbers each for junior year and my current senior year.
Michigan website reports Cost of attendance as around $70,000 for upperclassmen. In reality, I have not paid above $40,000 to attend the school since freshman year. Furthermore, Michigan Tuition is now cheaper than full cost of my in-state flagship, which itself is a well regarded public U.
Now, I understand this is anecdotal. Not everyone is going to be as fortunate as I am. But seriously, OOS parents, please encourage your students to search out scholarship commitees and applications on campus! It's actually very easy - almost all alumni groups are connnected to one system where you submit one application, only my larger alum scholarship required extra essays. Also, they get renewed every year without me needing to do anything except hold my GPA. I am not a 4.0 student and have not cured cancer while on campus, so I know any other student can earn these scholarships too, if they take initiative to look for them.
I just wanted this to be taken into account by parents who, like mine, were proud to send their kid to an amazing school but were concerned about the OOS price tag. There are many ways to reduce the cost of attendance at this school. I hope this post provides evidence that OOS finanical aid is present at Michigan.
Just like to add we also got FA for study abroad. It was very expensive and reached out to the head of the trip to ask for guidance. First the cost on the site was not the cost of the program so they estimate very high it seems. Second she said any student that wants to go study abroad we will make sure that happens. Wow... This was for a engineering study abroad. We followed the steps and to our surprise he got everything paid for except the flight to France. We just used our miles for that. He actually had like some travel money left and they said that was intentional. We are OOS. As I stated prior, once your a student there they go out of their way to take care of you. Maybe this is why so many Alumni contribute back to them?