University increases tuition, room and board rates
During a board meeting Thursday, the University of Michigan Board of Regents approved a 2.9-percent increase in tuition for in-state students as well as a 3.9-percent increase for out-of-state students. The increase will mean an additional $436 per year for in-state students and $1,874 per year for out-of-state students.
The increase in tuition for the 2018-2019 academic year mirrors last year’s 2.9-percent tuition hike for in-state students and 4.5-percent increase for out-of-state students. Ultimately, freshman tuition and fees will go from $14,826 to $15,262 for Michigan residents and $47,452 to $49,326 for non-Michigan residents.
In the decision, the board approved the tuition hike with a 7-1 vote. Regent Andrea Fischer Newman (R) was the only member to vote against the tuition increase.
In a quote from a Detroit News article, Newman argued for the need for affordability at the University.
"I've said this before, and I feel this is the real opportunity to make this statement," Newman said at the Regents meeting. "In the past 10 years, we've raised in-state tuition over 30 percent for freshmen and sophomores — an average of 3.3 percent per year — and more for juniors and seniors."
The tuition increase of 2.9 percent was still below the state’s tuition cap of 3.8 percent.
The board also voted to raise room and board rates, approving a 3-percent increase. Due to the increase in room and board rates, students will pay between $296 and $400 more for on-campus housing. The housing increase represents a 1-percent increase for support of operations and a 2-percent increase for residence hall renovations.
According to The University Record the increase will help significantly upgrade several residence halls.
“This marks the ninth consecutive year of residence hall operating cost increasing by 1 percent or less,” the statement reads. “With eight residence halls still in need of major upgrades, the overall 3 percent increase will cover essential housing services while supporting future renovations and maintenance.”
However, rental rates in the Northwood Apartments for graduate students and students with families will not increase.
Additionally, the cost per student for a double room with a basic meal plan will total $11,534 for the two terms, representing an increase of $336.
According to The University Record, despite the increase in tuition and room and board, the University will increase affordability in the coming year.
“The University of Michigan will prioritize strategic investments in undergraduate education and increased access and affordability for Michigan residents in the coming fiscal year, according to the 2019 general fund budget for Ann Arbor campus approved June 21 by the Board of Regents,” the statement reads.
The statement references the board’s intent to continue the Go Blue Guarantee, a free tuition pledge for in-state students with a family income of up to $65,000 that went into effect on January 1. The Record notes this academic year will be the first year where students will have decided to attend the University with that guarantee. The $65,000 benchmark for the guarantee represents the state’s median family income.
Even with increases in tuition for the coming year, the new budget also includes a 16.3-percent increase, or about $28.9 million more, in undergraduate financial aid funding.
In the statement, University President Mark Schlissel highlights the importance of the additional aid for students.
“I am proud that next year’s University of Michigan budget continues our focus on important strategic investments that bolster our cherished priorities of academic excellence, affordability and societal impact,” Schlissel said. “I thank the regents for their consistent support of our work.”