Some University of Minnesota students may soon have to dig a little deeper in their pockets, and school officials say it's because state lawmakers didn't fully fund a proposed tuition freeze.
According to a Friday release, U President Erik Kaler's new budget proposal includes a "modest tuition increase" of 1.5 percent for resident undergraduate students.
That translates to about $180 per year, but the hike goes up significantly for out-of-state students.
Non-resident undergrads are looking at a tuition increase of $1350 per year.
The good news, the university says, is that state and federal financial aid will eat up a large chunk of the added costs for low- and middle-income students (or those whose families make $100,000 or less annually).
The legislature did approve $22 million in tuition aid for the U of M last month, but it was significantly less than the $65 million the school originally requested, the Session Daily reported.
Despite the shortfall, Kaler says they were able to find ways to keep the impact to students low.
"The University did our part reducing administrative costs by an estimated $17.4 million to help offset our need for revenue," he said in the release. "That, combined with the Legislature’s new investment, allows us to keep the increase to 1.5 percent..."
The U of M Board of Regents will begin meetings on Kaler's $3.7 billion budget proposal – including the tuition hike – starting next Thursday.