On Thursday, the University of Michigan Board of Regents approved a proposed 3.7 percent increase in undergraduate and graduate tuition for the upcoming year for students at the University of Michigan-Dearborn.
Also approved is a 2.8 percent increase for Ann Arbor’s main campus. For Flint’s campus, undergraduate students will face a 3.6 percent tuition increase and 2.8 percent increase for graduate students.
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Vice Chancellor Stanley E. Henderson says an increase in state funding this year led to a lower tuition increase than in previous years, the lowest increase since the 2004-05 school year.
However, state funding has declined 22 percent since 2002.
“State funding covers just 19 percent of the university’s general budget,” said Henderson.
To help students understand the tuition rate setting process, the university has set up a website dedicated towards tuition for the 2012-13 academic year.
The university says the tuition increase equates to an approximate $188 increase, per semester, for the typical lower-division undergraduate student.
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“While it is always a difficult decision to raise tuition, the university is committed to maintaining the academic quality of the university and making a Michigan education accessible to all students,” said Chancellor Daniel Little.
One way the university is helping students is with a 15 percent increase in financial aid for the upcoming year.
“Through prudent fiscal management, we are committed to maintaining the high standards of the university and to supporting its priorities and initiatives, including financial aid, which will help prepare [students] for success,” said Henderson.
Last year, the regents approved a 6.9 percent increase in undergraduate and graduate tuition.