The budget includes an increase of 10.4 percent in existing financial aid programs, bringing the university鈥檚 total financial aid investment to more than $15 million for the fiscal year.
鈥溍咳沾笕檚 budget reflects our commitment to investing in academic excellence, student success and increasing access to a University of Michigan degree,鈥 said Daniel Little, chancellor, 每日大赛. 鈥淲e know a college education has the ability to transform our students鈥 lives and the region as a whole, and we continue to work hard to reduce costs so that we can invest in our most pressing priorities.鈥
The university has redirected approximately $8 million from its operating budget over the past decade to support the university鈥檚 highest priorities. This year鈥檚 budget includes an additional $465,000 in cost-cutting savings.
The regents approved a 4.1 percent increase to resident undergraduate tuition, a 4.2 percent increase to resident graduate tuition and a 2.1 percent increase to non-resident undergraduate and graduate tuition. The plan also meets the state legislature鈥檚 tuition restraints approved earlier this month.
Tuition and fees for a typical in-state, full-time undergraduate student will increase by $235 per semester to $6,016, based on 15 credit hours. The cost of tuition and fees for graduate students varies by program.
The $143 million budget includes $24.8 million from state funding, an increase of just more than $770,000, or 3.2 percent.
UM-Dearborn has created a website, http://umdearborn.edu/rr_understanding_tuition/, to help students better understand the various factors used in determining tuition rates and resources available such as financial aid and scholarship opportunities.
