The budget for next school year approved by the University of Minnesota Board of Regents Friday will raise undergraduate tuition by 3.5 percent and fund as many as 100 new faculty. U of M President Eric Kaler said the tuition increase was the lowest in the past 12 years at the university.

The University of Minnesota is gearing up to ask legislators for $91.6 million more over two years to freeze undergraduate tuition, meet five measurable improvement goals and invest in promising research.

President Eric Kaler will present his $3.5 billion budget to the U of M Board of Regents Friday afternoon. It calls for the lowest tuition increase in more than 10 years and pay increases for professors and staff. Regents are expected to vote on the budget at their June 8 meeting.

The Board of Regents will review President Eric Kaler's first $3.5 billion operating budget proposal next Friday. It calls for a 3.5 percent increase for in-state undergraduate tuition. Out-of-state and graduate students would see tuition go up about four percent. The budget proposal also includes money for faculty hires, salary increases and academic investments, according to the Pioneer Press.