Being a Michigan Wolverine Will Cost More Next Year with Tuition Increase
It's about to cost you more to be a University of Michigan Wolverine in Ann Arbor. The University of Michigan Regents has approved a tuition increase for the 2022-2023 academic year.
According to the university, U of M will see a 3.4% tuition rate hike for the upcoming academic year. The increase will break down for undergraduate students to an increase of around $558, for an annual rate of $16,736. Undergraduate tuition and fees will increase by $2,102, 3.9%, for nonresident students, for an annual rate of $55,334. Those in graduate programs will see a 3.9% increase in tuition and fees.
Although the vote was to increase tuition, the university states that the hike will be offset by a 5% increase in financial aid that will completely cover the tuition increase for most in-state undergraduate students. According to the announcement, about one-in-four undergraduates from Michigan will pay no tuition at all because of financial aid.
The Regents also voted to increase the current rate for residence hall room and board for the upcoming school year. Those choosing to live on campus in residence halls for the 2022-2023 year will see a 4.6% increase. U of M students will also see a 2.2% increase for University Health Services. On the plus side, voting approved that the minimum wage was to be increased to $15 per hour for all employees on the Ann Arbor campus.
Interestingly enough, the vote was not unanimous by the University of Michigan Regents. The increase passed with the vote of 7-1, with only Regent Denise Ilitch voting no against the new business model for the home of the Maize & Blue. According to Click on Detroit, Regent Ilitch felt the plan included the increased “limited opportunities” for working- and middle-class students to receive a Michigan education.
The new changes go into effect on July 1, 2022. You can read the full breakdown here.
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