The cost of a college education is on everyone’s minds these days, and there’s no denying it can be an expensive investment! Michigan parents should know that our entire U-M community, from the Regents, to Student Life, to Student Government, is actively working to keep tuition increases in check, while still maintaining an outstanding educational experience for your student.
The website for the Office of the Provost shares that most resident undergraduate rates will rise by just 1.1% this fall. In fact, this year’s budget contains the smallest in-state tuition increase in nearly 30 years and the largest-ever increase in financial aid – a notable achievement, when state funding has decreased nearly 50% per student over the past decade.
In this challenging economic environment, we all have a part to play in containing the costs of college:
U-M staff members want to be sure that we are providing the most cost-effective services we can. In recent years we’ve been consolidating our IT and Administration departments, among many other measures, to assure the highest quality services to students in the most efficient way possible.
Parents will want to be sure to take advantage of the many resources at the U-M Financial Aid Office. Their site includes a video library on financial aid topics like how to apply for different types of financial aid and how to understand your student’s university account, guides for parents of in-state and out-of-state students, and even an online course to help students manage their own budgets while in college.
And students will want to be sure to take advantage of everything included in the cost of tuition. Most U-M Student Life programs, services, and events are free to students. From leadership opportunities with student organizations, counseling and wellness services, to campus programs and events. All are covered by the standard U-M tuition and student fees. Students who immerse themselves in the total Michigan experience will benefit from a world-class institution and truly “get their money’s worth!”
If you’re interested in finding out more about how U-M spends your tuition dollars, this fun video was created by Michigan students about all of the “ingredients” that go into a university budget. Enjoy, and Go Blue!
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