The University of Minnesota Board of Regents on Thursday approved a $4.2 billion budget that will raise tuition for most undergraduates by 3.5 percent.
That’s the increase Twin Cities and Rochester students will face next year, while tuition will rise 1.75 percent for Duluth, Morris and Crookston undergrads.
Acting as the finance and operations committee, the regents voted 11-1 on Thursday to approve the budget.
Darrin Rosha cast the lone no vote after seeking a tuition freeze for Minnesota residents but without presenting a specific plan for offsetting that lost revenue.
“We’re out of line with what we’re charging our students,” he said.
Regents Mike Kenyanya and James Farnsworth supported Rosha’s amendment but voted for President Joan Gabel’s recommended budget anyway.
“None of us are thrilled with the tuition increase at 3.5 percent,” board chairman Ken Powell said. “I thought it might be more, so I think the fact that we landed there, well below inflation, which is still running at over 8 percent … I can live with that.”
The tuition increase is the highest in a decade for Twin Cities students but matches the percentage increase sought by the Minnesota State college and university system.
Students from low-income families can expect their tuition hikes to be more than offset by increased state and federal grants.
The U’s budget includes a 3.85 percent in the pool of money available for merit-based employee raises.
The U also is sending $7.4 million to Duluth, Morris and Crookston to cover budget shortfalls due to low enrollment.