A General Fund budget for the University of Michigan-Flint campus for the 2014/15 fiscal year has been approved by the University of Michigan Board of Regents. The Board of Regents also set tuition and fees, as well as housing rates for the coming academic year.
The General Fund budget for the UM-Flint campus for the upcoming fiscal year beginning July 1 will be $109.5 million. The budget reflects an increase of $7.4 million over the previous year. $1.4M of the increase comes from state funding.
"The increased budget for the upcoming fiscal year will help the campus to maintain the highest standards of academic excellence," said Chancellor Ruth J. Person. "Investments in classrooms, labs, research, and other areas will foster the ideal learning environment for our students."
The Board of Regents also approved a three percent increase in undergraduate tuition and fees, and a three percent increase in graduate tuition and fees at UM-Flint. A typical in-state, full-time freshman student with 15 credit hours will pay an average of $5,069 in tuition and fees per semester in the coming year. The cost of tuition and fees for graduate students varies from program to program.
"Maintaining affordable tuition is a must," said Chancellor Person. "UM-Flint's tuition is among the lowest in the state, and we are committed to providing a true University of Michigan academic experience. Keeping education accessible without sacrificing quality is a top priority."
Room and board rates for the First Street Residence Hall were increased 2.7 percent. The new fiscal year budget also includes a five percent increase in institutional financial aid.
The new budget will be implemented on July 1, 2014. The new tuition and fee and room and board rates will start with the Fall 2014 semester.
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