Board of Trustees set CMED tuition, approve $7 million research lab
Future College of Medicine students can begin to make financial plans now that they know what it will cost.
The board's committee for the College of Medicine met Thursday morning to provide updates on its progress, looking forward to its first inaugural class in August 2013. At the formal meeting later in the day, the board approved tuition rates of $33,536 for in-state students and $67,072 for out of state students.
"We have to let our students know what it costs to come here," said University President George Ross. "We had to have a tuition base in order to produce financial aid packages."
CMED Dean Ernest Yoder gave a report of the college's accreditation status, plans for admitting students for summer 2013, updates for student affairs, updates on different facilities associated with the college, updates on faculty and staffing positions and a progress update of the fundraising goal for the college.
"The CMU College of Medicine received accreditation from the Higher Learning Commission back in February 2012," Yoder said.
The accreditation will allow CMED to offer the doctoral degree for students and will allow students to obtain federal financial aid and grants.
CMED has already received nearly 2,000 applications for its first class. Prospective students will apply to the college through the American Medical College application service. The intensive application process includes a combination of essays, personal statements and a list of professional references.
Yoder said the college plans to interview between 350 and 450 candidates, and of those who receive interviews, 60 will be selected as the first inaugural class in August 2013.
"The CMU College of Medicine will be a four-year medical school, where the students will spend their first two years in the college receiving training in their speciality, and their third and fourth years out at one of our facilities receiving hands-on clinical experience," Yoder said.
St. Mary's Hospital of Michigan, located in Saginaw, will be home to the Internal Medicine program, while Covenant Hospital, also located in Saginaw, will be home to the general surgery and obstetrics and gynecology programs.
These facilities are planning schematic designs for 90,000-square-foot renovations in order to support residency students and clinical care needs to take place within the next year.
"The ownership of these properties is still to be determined — it's one of those 'tricky' situations," Ross said.
CMED has achieved 65 percent of its $25 million fundraising goal, raising more than $16 million.
Additionally, a $7 million research facility, located near the CMU Research Corporation, was approved. The building will feature eight wet labs to be used for students from CMED and the College of Health Professions. The building is expected to be constructed by June.
Yoder said Dow Corning and multiple individuals, including CMU alumni, were among those who donated toward CMED. A dinner of recognition took place Thursday night to honor those who donated.
Friday is the grand opening of CMED, featuring a ribbon-cutting ceremony and a tour of the college.
