A general fund budget for the UM-Flint campus for the 2014-15 fiscal year was approved Thursday by the Board of Regents. The regents also set tuition and fees as well as housing rates for the coming academic year.
The general fund budget for UM-Flint for the fiscal year beginning July 1 will be $109.5 million. The budget reflects an increase of $7.4 million over the previous year. $1.4 million 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,” says Chancellor Ruth J. Person. “Investments in classrooms, labs, research and other areas will foster the ideal learning environment for our students.”
Regents also approved a 3 percent increase in undergraduate tuition and fees, and a 3 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,” Person says. “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 5 percent increase in institutional financial aid.