Tuition and housing costs will rise for University of Michigan students as part of a budget approved 7-1 Thursday by the UMich Board of Regents, MLive reported.
The $2.8-billion 2022-23 budget also includes a $15 minimum wage extended to temporary and student staff employees on the Ann Arbor, Flint and Dearborn campuses and an expansion of financial aid to offset the tuition increases for in-state students who demonstrate need.
National inflation reached 8.6% in May, according to the U.S. Bureau of Labor.
Tuition will increase 3.4% for in-state undergrads and 3.9% for out-of-state students. Housing costs will also increase 4.6%.
Total financial aid will increase by 6.5%.
“As a result, all in-state undergraduates with financial need will have no increase in net tuition from this tuition increase,” UMich Provost Dr. Laurie McCauley said.
