Tuition will increase nearly 10 percent for some students at the University of Minnesota Twin Cities campus if a plan proposed Friday is approved by the Board of Regents.
University President Eric Kaler’s proposal calls for a 9.9 percent hike for nonresident, non-reciprocity undergraduates, a 2.5 percent increase for resident undergraduates and increases between .5 percent and 5 percent for graduate and professional students.
“[Kaler’s] recommended budget … does respond to student needs and is very market-sensitive in the area of tuition,” said University Chief Financial Officer Richard Pfutzenreuter. “This budget continues to move resources from lower priority areas to higher impact, or need, areas.”
If approved, in-state and reciprocity students would pay an extra $306 next year, while nonresidents would pay more than $2,000.
Under the $3.8 billion operating budget proposal, the tuition increase for resident undergraduates would be offset for about 10,000 students with family incomes up to $120,000 a year by expanding the University’s Promise Scholarship program.
Except for a nearly 17 percent surge for nonresident Morris students and 2.5 increase for those same students at the Duluth campus, tuition for undergraduates would not increase at the University’s four coordinate campuses.
Additionally, $27.5 million — including $15 million in administrative spending — would be reallocated and applied toward “core mission activities” like education, research and engagement.
The board will discuss the plan at its meetings next week. A public forum on Kaler’s proposal is scheduled for May 12.
Regents are expected to vote on the proposal in June.