“drew criticism from one regent who noted the university’s 38th consecutive annual tuition increase and said the school’s business model is not sustainable”
This is probably the worst decision the school could make right now. They would probably increase enrollment by lowering costs.
The Detroit News reports:
University of Michigan hikes tuition, housing costs to nearly $30,000 annually
University of Michigan regents approved increases in tuition and room and board Thursday that pushed the annual cost for a full-time, in-state undergraduate student living on the Ann Arbor campus to nearly $30,000.
The 3.4% tuition hike that brings annual costs to $16,736, up from $16,178 in 2021-22, drew criticism from one regent who noted the university’s 38th consecutive annual tuition increase and said the school’s business model is not sustainable.
Regent Denise Ilitch was the lone no in a 7-1 decision to approve the Ann Arbor campus’s $2.59 billion operating budget for 2022-23.
“This continual increasing has limited opportunities for middle- and working-class students, some would say being ‘squeezed,’ to take advantage of a Michigan education and impact the economic diversity of the student body at a time of increasing hardship,” Ilitch said. “We have been told over and over this business model … must change.”
Interim President Mary Sue Coleman said one in four in-state undergraduate students on the Ann Arbor campus — more than 4,000 students — won’t pay tuition and the majority will not see an increase in what they pay for tuition due to need-based financial aid, which officials say will increase 5%, or about $12.8 million, more than last school year.
“The rate increase for those who can afford it will allow us to continue offering the critical financial aid programs that ensure that the university is accessible to all,” Coleman said.
Annual housing rates for students living in a double room with a basic meal plan rose 4.6% to $13,171, up from $12,592 in 2021-22. UM said the increase would be used for future maintenance and upgrades to residence halls such as security, Wi-Fi and room amenities, and would help offset rising food costs.
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