The team was the national statistical champion in team field goal percentage (54.6%, 1198 of 2196). The team established the current Big Ten Conference records for team single-game assists by twice totaling 37 (vs. Western Michigan December 7, 1987 and vs. Eastern Michigan December 12, 1987) as well as the current team assist record for conference games with 36 (vs. Iowa February 3, 1988). The team also established Big Ten team records for single-season field goals made (1198), and single-season assists (694, 1987–88) that it would surpass the following season. It also set the single-game (conference games only) three-point field goal percentage record that would only last one night (.875, 7 of 8, vs. Iowa February 3, 1988).
The team set a new school record by totaling 2973 points over the course of the season, surpassing the record of 2821 set the prior year. The record would be rebroken the following season.Loy Vaught also set the Michigan single field goal percentage record at 62.18% which he would break the following season. For the fourth of five consecutive seasons, the team set the school record for single-season field goal percentage on with a 54.6% (1198-for-2196) performance. Grant set the individual single-season three-point field goal percentage record of 48.53%, but it was eclipsed the following season by Glen Rice. Also against Iowa on February 3, the team set the current three-point field goal single game percentage record by making 7 of its eight attempts, surpassing the December 6, 1986 record of 75%.Gary Grant's established the current school record when his single-season total of 234 assists surpassed his own school record total of 185 that he set two years earlier. His 731 career assists also established the current school record, surpassing Antoine Joubert's 539 set the prior season. He also surpassed Dave Baxter's school single season average set in 1978 of 6.59 with the current record of 6.88 assists per game and Eric Turner's 1984 career average of 5.00 per game with a 5.67 average that was surpassed in 1990 by Rumeal Robinson. For the second of three consecutive seasons, the team set the school single-season total assist record with a total of 694, surpassing the prior total of 652. Grant's current school record total 14 assists in a game on December 7, 1987 against Western Michigan and he repeated the feat on December 19 against Northern Michigan. This surpassed Mark Bodnar and Antoine Joubert, who had each posted 13 assists in a game previously. Grant's career steals total of 300 and average of 2.33 surpassed Thad Garner's 1982 statistics and remain school records.Gary Grant career total of 4231 minutes surpassed Joubert's school record total of 3960 set the prior year. Louis Bullock would break the record in 1999.Gary Grant ended his career with 129 games played and 128 games started, which surpassed Joubert's 1987 school records of 127 games and 115 starts. Glen Rice and Louis Bullock would surpass these records for games and starts in 1989 and 1999, respectively.