The University of Michigan Board of Regents approved the 2011/2012 fiscal year General Fund budget for the University of Michigan-Flint. The total General Fund budget for the UM-Flint campus for the upcoming fiscal year is $92.5 million. The budget reflects the cut by the State of Michigan of 15%, resulting in the loss of over $3 million dollars for UM-Flint.
“The 2011/2012 budget reflects the challenges of absorbing a substantial budget cut from the state,” said Chancellor Ruth J. Person. “For over two decades, state appropriations have declined dramatically, while the number of people seeking degrees has risen. Investing in higher education in Michigan must become a priority to meet the demands of educating our citizenry.”
University leaders have taken steps to significantly contain expenses, including review of all hiring decisions, improved energy efficiency, implementation of new technology, and a reduction health-related insurance costs through implementation of efficiencies to the university healthcare plan. In fact, UM-Flint employees now pay 30% of their healthcare costs.
The Board of Regents also approved a 6.8 percent increase in undergraduate tuition and fees, and a 4.9 percent increase in graduate tuition and fees for Michigan students at UM-Flint. A typical in-state, full-time freshman student with 15 credit hours will pay an average of $4,592 in tuition and fees per semester in the coming year. The cost of tuition and fees for graduate students varies from program to program.
UM-Flint’s budget for 2011/2012 includes an 8.8 percent increase in institutional financial aid, which is 2.0 percent more than the tuition increase, and approximately 3 percent more than in 2010/2011. Nearly 70 percent of all UM-Flint students receive some form of financial aid, including need-based, merit and private scholarships, as well as loans.
“Our highest commitment is to our students and maintaining our stellar reputation for academic excellence,” said Chancellor Person. “We will continue to review all expenses and make prudent spending decisions. At the same time, we will continue to do all we can during these difficult economic times to enhance the outstanding educational experience at UM-Flint.”
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