Tuition Hike

Colleges and Universities A-Z University of Michigan
1

<p>excerpts from the Umich.edu site:</p>

<p>"...tuition increase of 7.4 percent for both resident and nonresident undergraduates, a 5 percent increase for most graduate programs and an 11.5 percent increase in centrally awarded student financial aid for undergraduates.</p>

<p>The total academic year tuition and all required fees for first-year undergraduates in the College of Literature, Science and the Arts will be $10,447 (a $724 increase) for Michigan residents and $31,301 (a $2,170 increase) for nonresidents.</p>

<p>Student access remains a top University priority. U-M will continue its longstanding policy of meeting the full demonstrated financial need of all Michigan residents, Coleman said.</p>

<p>As in the past, U-M will increase centrally funded financial aid at a higher rate than its tuition increase. The FY 2008 budget calls for an overall increase of more than $8.1 million in centrally awarded financial aid, an 8.95 percent increase over FY 2007, for a total of more than $99 million. This includes a nearly $6.4 million or 11.5 percent increase in financial aid earmarked for undergraduates.</p>

<p>For a typical middle or low-income resident undergraduate, the increased cost of attending U-M will be offset by additional grant aid. The University therefore expects no increase in loan burden due to the tuition increase for these students. In addition to centrally awarded financial aid, academic units award both need- and merit-based scholarships."</p>

<p>I am really hoping that interprets to an increase in Merit-based scholarships to show up on Daughter's account before money is due in September????</p>

2

<p>Wow, over $10,000 for in-state students!</p>

<p>And over $31,000 for OOS students!!!! Is Michigan the first public school to pass the $30K mark? I believe so!</p>

<p>That is just insane, but it's going to continue for years to come.</p>

3

<p>Oh great! I'm pretty much screwed since I'm not eligible for financial aid or grants. Awesome!!!</p>

4

<p>wow, good thing I have a MET</p>

5

<p>What's that?</p>

6

<p>The full press release talks about the increase in financial aid only being in "need based" aid packages, so I wouldn't expect to see any increase in merit based scholaships. That's how I read it, unfortunately.</p>

7

<p>Sigh... yay more debt, fun fun. What's another few thousand over the years...</p>

8

<p>MET in a nutshell is a Michigan tuition plan where your parents make payments periodically as you grow up so that your college is paid for when you go to it. A few of my friends had it.</p>