June 18, 2015
Investing in the student experience and providing access to education is the focus of the fiscal year 2016 UM-Flint budget approved Thursday by the Board of Regents.
The general fund budget for the UM-Flint campus for the upcoming fiscal year will be $114 million. The budget reflects an increase of $4.6 million over the previous year, with $426,000 of the increase coming from state funding. The total state appropriation for the university in fiscal year 2016 will be $21.8 million.
"The budget for the upcoming fiscal year will continue to position the University of Michigan-Flint as a regional comprehensive campus of excellence," said Chancellor Susan E. Borrego. "All funds will be utilized strategically to reinforce our commitment to student success."
Regents also approved a 3.2 percent increase in undergraduate and graduate tuition and fees at UM-Flint. A typical in-state, full-time freshman student with 15 credit hours will pay an average of $5,229 in tuition and fees per semester in the coming year, an increase of $160 per semester. Additionally, the pool of student financial aid will grow by $766,000, which is an increase of 13.1 percent over this year. The cost of tuition and fees for graduate students varies from program to program.
Room and board rates for the First Street Residence Hall will increase 3.4 percent. The new room rates will remain the lowest of Michigan's 15 public universities.
"Supporting students to obtain an excellent college degree is our highest priority," Borrego said. "A major focus of the university's upcoming capital campaign is raising money for scholarships for our students. We will pursue every opportunity to increase access and improve degree attainment."
The new budget will be implemented July 1. The new tuition and fee and room and board rates will start with the fall 2015 semester.