Associated Press, Published May 11 2012
Proposed U of M budget raises tution 3.5 percentST. PAUL — A budget proposal before University of Minnesota regents Friday raises undergraduate tuition by 3.5 percent, boosts financial aid and gives professors and staff a raise.
The proposal from university President Eric Kaler reflects priorities he outlined earlier this year — rebuild faculty, invest in scholarships and hold down tuition increases. The proposed tuition hike is slightly above last year's annual rate of inflation. The average student would pay $21,300 a year with room and board, an increase of $700.
After three years of furloughs, stagnant wages and higher health-care costs, staff would get a 2.5 percent raise.
Minnesota Public Radio News says Kaler would also spend $34 million to hire new faculty, fund programs and improve libraries and classrooms.
Regents will review the budget and listen to public comment Friday afternoon.
Information from: Minnesota Public Radio News, http://www.mpr.org
Copyright 2012 The Associated Press.