HOUGHTON — On Monday, June 27, Governor Rick Synder signed the next fiscal year’s state budget bill. As a result, Michigan Technological University has adjusted next year’s tuition rates to comply with the tuition increase caps the state has set in its university appropriation guidelines.

This adjustment averages 4.2 percent for in-state undergraduate students studying in the University’s most common academic programs and maintains a balanced budget for Michigan Tech next year.

Michigan Tech’s budget for the coming fiscal year increases financial aid to undergraduate students by $3.2 million, a 10 percent increase over current year expenditures. This additional financial aid recognizes a projected increase in enrollment and reflects Tech’s emphasis on student access and affordability.

“Each year that state leadership has set a tuition increase cap, Michigan Tech has been at or below that cap,” noted President Glenn Mroz. “By most state and national measures, Michigan Tech continues to be a recognized leader in return on investment for a college education. Next year’s budget, which includes a healthy increase in financial aid for our students, ensures this leadership will continue.”