The college world. As students enter into it they find a wealth of possibilities – and a pile of bills.

Ever wonder where all that tuition money goes and who decides what to spend it on?

The answer is simple: the Board of Regents, the governing body of all University campuses.

Consisting of 12 members, the board makes decisions on everything from the price of tuition to the types of facilities the University needs.

“The board makes the policies that affect students every day. Our job is to serve the students,” said Regent Maureen Reed.

Reed said the board has three main functions – setting long range policy, determining the University’s budget and reviewing University President Mark Yudof’s accomplishments.

At monthly meetings, the board divides itself into numerous sub-committees to focus on specific issues.

Regents go through a lengthy selection process to earn a place on the board and are appointed by the state Legislature. They serve six-year terms and are unpaid.

When developing policies, regents listen carefully to students’ opinions before making a final decision.

“The board loves student input. We’re interested in conversing with them about all policy issues,” Reed said.

In addition to communicating with random students, several student representatives are appointed by student groups each year to assist the board in gaining a campus perspective.

“Having (the student representatives’) input in policy discussion is absolutely critical. If there’s an issue that affects the students that we don’t see or understand, they alert us to that,” said Regent Michael O’Keefe.

Board of Regents meetings are open to the public and conducted on the sixth floor of the Gateway Alumni Center. For more information visit http://www.umn.edu/regents

Melinda Rogers welcomes comments at mrogers@mndaily.com