Board of trustees approves financial aid increase, room-and-board rates up 1.5 percent
University President George Ross said a marked increase in financial aid for the 2011-2012 year will be added to the budget and available for students this fall.
The financial aid budget totaled $28 million this school year.
“There will be an additional $3.3 million in financial aid to meet a growing number of students,” Ross said. “The whole budget will be finalized in July.”
In addition, room and board rates for the 2011-2012 school year will increase by 1.5 percent, setting the new rate at $8,212 per year.
Ross said it was the second-lowest increase among the 13 public universities in Michigan that provide student housing. CMU had the fifth-highest room-and-board rate last year, Ross said, but dropped a spot with the new rate to sixth highest.
“We are pleased to be able to recommend a modest increase,” said John Fisher, associate vice president of Auxiliary Services. “This is a reflection of us constantly looking for efficiency on the cost side. We are expecting a healthy occupancy for next year.”
The increase will cover rising costs in staff salaries and food prices, Ross said.
Ross said he advocates for fair and equitable funding for higher education regarding appropriations and the budget, and has continued to do so by advocating in Lansing.
“(There) cannot be a sacrifice in academic quality or service,” Ross said. “We will not increase tuition to balance the upcoming budget. We will not lay off any university employees related to this budget crisis.”
Other business Jane Matty, interim dean of the College of Science and Technology, and Charles Crespy, dean of the College of Business Administration, presented the board with updates on their programs.
Matty recognized a number of faculty and students who have stood out in their research and projects. She said a group of elite students are chosen each year for scholarships and a three-week summer program at the research site on Beaver Island.
The College of Business Administration has changed its mission statement, and Crespy said they aspire to be one of the three leading colleges in the state of Michigan for the program.
“We’ve identified three primary dashboard metrics,” Crespy said. “First, we need to find jobs for all of our graduates.”
Last year, 90 percent of the business administration graduates either went to graduate school or got a job directly relating to their field of study. Staff in the college took the statistics from a sample of the graduating class, but hope to complete a full census in the future.
Crespy also hopes to get students involved with internships, study abroad and the New Venture Competition.
“Our challenge is to get our students much more involved in their educational experience,” he said.
