U of M Tuition Freeze Backed by Regents

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University of Minnesota President Eric W. Kaler's biennial budget request was approved Friday by the U of M Board of Regents.
The $1.18 billion biennial request is Kaler's first since taking office as U president. If successful, the budget will act as a bargain with state lawmakers.
Tuition freezes for resident undergraduates in academic years 2014 and 2015 are set to occur in exchange for an 8.4 percent increase of state funding to the U, $91.6 million more than the current biennium. That increase would return the U of M's state funding to 2001 levels, without taking into account inflation, reports the Star Tribune
"President Kaler's budget reflects a new tone, a new commitment and a new conversation, and I think all three are welcome," said U Regent Laura Brod prior to voting.
The budget does create commitments. The second year of funding locks $11.5 million into an "accountability fund" which the U could access once it has met three of five goals. These include increased financial aid for students, four and six year graduation rates and a minimum of 15,000 degrees in 2014, according to The University of Minnesota Daily.
The biennium also highlights state funding of University research in order to qualify for further federal funding.
Kaler's proposed budget will be presented to the state Legislature session this January.

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This page contains a single entry by Sara G published on October 13, 2012 11:29 AM.

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