ANN ARBOR (WWJ) – The University of Michigan is raising tuition for in-state students by $558 for the 2022-23 school year.
Thursday’s announcement came over the objections of Regent Denise Illitch, who said this is the 39th annual rate hike and the school needs to find a way to tighten its belt and find new sources of revenue.
“My vote today is for the student in Ann Arbor who works three jobs to pay for tuition, books and rent, and the student in Dearborn who is working full-time, living at home to save money, paying her way through school, only to start her young life with tens of thousands of dollars in student loans,” Illitch said.
Illitch says the tuition has gone up for 39 years in a row - and it's not a sustainable business model. She is calling for slimming down costs and looking for new revenue.
She was the only one on the eight-member Board of Regents to vote against the hike.
With the increase, in-state students at U of M will be paying just under $17,000 a year.
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The Regents also approved raising financial aid, which they say will offset the cost for about 25% of the students.
In a press release, the school says under the new spending plan, the in-state undergraduate rate of tuition and fees in Ann Arbor will increase by 3.4% but will be offset by a 5% increase in financial aid—or about $12.8 million more than this year. The increased aid “completely covers the tuition increase for most in-state undergraduate students,” officials said.
The board also extended $15 minimum wage to temporary and student workers, expanding merit pay programs for faculty and staff, and funding initiatives in culture change and organizational learning.
Full details on Thursday’s news can be found on the Board of Regents’ website.