EMU Regents approve budget, tuition and fees, and additional student financial aid for FY 2008-09
YPSILANTI — The Eastern Michigan University Board of Regents today approved a University budget for fiscal year 2008-09 of $262.7 million with a 7.7 percent increase in tuition and fees. Of that increase, 6.8 percent is designated for operations and 0.9 percent to reinvest in building improvements. The Regents also approved housing and dining rate increases for 2008-09 averaging 5.15 percent, and reinvested in students with $23.6 million in student financial aid, an increase of 10.3 percent compared with the previous fiscal year.
“EMU believes in reinvestment in Michigan through our talent base that we provide that will rebuild Michigan’s economy and future. Our students come from Michigan, graduate and stay in Michigan. An investment in EMU is an investment in Michigan’s future. This is why we felt it was extremely important to increase student financial aid, especially in this economic environment,” said Susan Martin, president of Eastern Michigan University. “We’re pleased that we will be able to offer a 10-percent increase or nearly $24 million in financial aid for our students.”
The $262.7 million budget represents an increase of $9.6 million (3.8 percent) and reflects a 1-percent increase in state appropriations. This year’s budget was developed with input from the EMU Budget Council, a 28-member group made up of representatives from faculty and staff.
In-state undergraduate students will pay an additional $579 for tuition and fees, bringing the annual cost of tuition and fees at EMU to $8,069. EMU remains an excellent educational value offering students a first class education at costs below most of Michigan’s 15 state universities, says Martin.
The tuition increase designated for building improvements will generate $1.5 million annually in additional funding. “A similar capital funding earmark was adopted by the Regents in the 2006 fiscal year,” Martin said. “Together, the two dedicated revenue streams will provide critical funding to significantly improve the University’s educational facilities that require reinvestment, so we can launch a well-tooled generation of Michigan leaders and workforce to build Michigan’s future.”
Eastern Michigan University is a public, comprehensive university that offers programs in the arts, sciences and professions. EMU prepares students with the intellectual skills and practical experiences to succeed in their careers and lives, and to be better citizens.
Eastern Michigan University is a public, comprehensive university that offers programs in the arts, sciences and professions. EMU prepares students with the intellectual skills and practical experiences to succeed in their career and lives, and to be better citizens.
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