Friday, June 13, 2008
Today, the MSU Board of Trustees voted to approve budget guidelines for fiscal 2008–09 that represent a strategic and balanced approach to addressing current economic challenges while preserving the university's ability to provide Michigan's families with access to one of the top 100 research universities in the world.
The budget includes a tuition increase of $639, or 6.8 percent, for in-state, lower division undergraduates (freshmen and sophomores). Tuition for out-of-state undergraduate students and graduate students will increase approximately 7.1 percent, or $1,700, after restructuring. In addition, the budget reinforces Michigan State's commitment to increasing financial aid to keep pace with rising tuition. Base financial aid will rise 11.6 percent, bringing total financial aid to $69.5 million. This includes funding to continue the Spartan Advantage program aimed at new students below the poverty level and additional support to offset the loss of $2 million in Federal Family Education Loan Program revenues.
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