UM-Dearborn’s 2014-15 operating budget, approved Thursday by the Board of Regents, includes a 21 percent increase in the financial aid budget and meets the state Legislature’s tuition restraints introduced earlier this month.
“University of Michigan-Dearborn is committed to providing quality academic programs, maintaining one of the best faculties in the state and providing an affordable education for all students,” said Chancellor Daniel Little. “We continue to work hard to invest in our academic mission and reduce costs as we focus on preparing students to become difference makers in industry and in the community.”
Regents approved a 3.2 percent increase in in-state undergraduate and graduate tuition. The increase is the lowest since the 2004-05 school year and continues a three-year downward trend in tuition increases.
A typical in-state, full-time undergraduate student with 15 credit hours would pay an average of $5,600 in tuition and fees per semester starting in September. Fees include a $5 increase per term to student fees to help strengthen athletics and student engagement activities, an initiative supported by the university’s Student Government.
The cost of tuition and fees for graduate students varies by program.
The university qualified for additional state performance funds as a result of meeting the tuition restraints established by the Legislature. This year, UM-Dearborn will see an increase in state appropriation of 5.2 percent or $1.18 million.
“We value the ongoing partnership we have with the governor and state Legislature and the increased support they have provided in these past three years,” Little said. “A commitment to affordable, accessible higher education is important to the future of Michigan.”
UM-Dearborn has redirected nearly $7.5 million from its operating budget over the past decade to support academic, financial aid and student expenditures of the highest priority. In the 2013-14 budget, an additional $775,000 was redirected to support these priorities.
Savings have resulted from reorganizing existing processes, combining staff in operations areas, gaining departmental efficiencies and continuing to leverage business operations practices with the Ann Arbor and Flint campuses.
UM-Dearborn has created a website to help students better understand the various factors used in determining tuition rates and resources available such as financial aid and scholarship opportunities.
