HOUGHTON–Michigan Technological University’s Board of Control passed a balanced budget for fiscal year 2014 of $172.5 million. Major sources of revenue include $43.8 in state appropriations and $114.7 million in tuition and fees.
Next year’s budget is $7 million higher than the current year’s and includes an additional $1 million for financial aid, $500,000 for maintenance and a 3 percent merit adjustment for employees, effective in January.
The Board also set tuition rates for the 2013-14 school year. Using a new plateau tuition system, undergraduates who are Michigan residents will pay a flat tuition of $6,735 for 12 to 18 credit hours during the fall and spring semesters, an increase of 2.9 percent over this year’s tuition for an average course load of 15 credit hours. This is the lowest increase in tuition since 2004–05, which saw a 2.3 percent hike. Nonresident undergraduates will pay $14,175 for 12 to 18 credits, a 5 percent increase.
The 2.9 percent increase for in-state undergraduate tuition keeps Michigan Tech below tuition caps proposed by the state House, Senate and Governor, the Board was informed.
The full release is available here: http://www.mtu.edu/news/stories/2013/may/story89209.html
Click To Submit Press Releases, News, Calendar Items, and Community Events to mediaBrew radio stations WFXD, WKQS, WRUP, GTO, Fox Sport Marquette, and 106.1 The Sound
Marquette, Michigan Calendar; Ishpeming Calendar; Negaunee Calendar; Gwinn Calendar; Negaunee Calendar and Events; Upper Peninsula Calendar of Events; Escanaba Events and Calendar