i like your second design best. i think it'd be a good one to move forward with. maybe make the i slimmer so that it reflects the letter more. otherwise though. the logo is clean and nice-looking. like spike said, maybe add some yellow just to be more um-ish. good work.

Might also consider coloring the dot and waves UofM yellow for additional visual interest.

The middle design has the most potential in my opinion. Consider shaping the waves under the dot to be longer and/or extend outside the border of the encircling swipe. Perhaps white space cutting through the waves could strengthen the "i".