Regents approve U of M state budget request
Today, the University of Minnesota’s Board of Regents approved the President’s recommended supplemental state budget request for fiscal year 2019. If funded by the State Legislature, the $10 million request will hold tuition flat for Minnesota resident undergraduate students on all five U of M campuses across the state—approximately 31,500 students.
“The U of M is committed to making higher education accessible to Minnesotans, and in fact, over the past six years, our resident undergraduates have seen the smallest tuition percentage increases in the past 58 years: an average annual increase of 1% on the Twin Cities campus and 0.4% on all other campuses,” said President Eric Kaler. Furthermore, 43% of U of M bachelor degree recipients graduate with zero student debt. “This coming year, we want to hold tuition flat for Minnesotans, and to do so, we require state support,” said Kaler.
The University’s $10 million request will be made to the State Legislature following Minnesota Management and Budget’s announcement of a $329 million state budget surplus for the remainder of the current biennium.
“We will make the case to lawmakers that the budget surplus should benefit Minnesota’s future: our state’s students,” said Kaler. “By holding tuition flat, we can offset student debt and ensure that the excellence of a University of Minnesota education remains accessible.”
The University’s request offsets a $10 million decrease in state appropriations for fiscal year 2019 under current law.
The Board of Regents will meet next for its regularly scheduled meeting on March 23, 2018 in Rochester. Visit regents.umn.edu for more information.
Find out more about the University’s 2018 supplemental budget request at http://z.umn.edu/FY19budgetrequest.