With the state of Michigan having as much financial trouble as it is, the state’s Public 15 universities have some hard choices to make.
Michigan Tech has just made some.
And both tuition, and room and board, are on their way up.
The Board of Control has voted to raise tuition 5.45% for in-state undergrads.
It’ll be about $11,350 for full-time students this coming year.
Out-of-state undergrads will see 5% higher tuition.
So will all grad students.
But the board is budgeting for more scholarship money to try to offset the higher tuition for as many students as they can.
Michigan Tech will be spending $2 million more on financial aid this year than last.
That’s an 8% increase.
Undergrads will also pay 4.8% more on average for room and board.
The school’s operating budget through June 30th of next year is nearly $155 million.
They’re basing that on an expected 3% state funding cut.
MTU should be getting about $1.2 million in federal stimulus money.
That should offset most of the state cuts.
But the stimulus money is a 1-time fix.
NMU’s Board of Trustees is getting together as well.
They’ll address budget issues on their campus, including tuition, tomorrow morning.