The new study, released by the President's Council, State Universities of Michigan, revealed an overall decrease in the real cost of college tuition for the average Michigan public university student over the last five years from the 1997-98 school year to the 2002-03 school year. Increasing scholarships, grants institutional aid and tuition tax credits are cited as the major reasons for the net tuition cost reduction - factors that have more than outpaced tuition increases after inflation, according to the study.
In 2002-03, the average student at Michigan's public universities paid only 45 percent of the "sticker price" of tuition and mandatory fees. The average sticker price was $5,570 for the 2002-03 school year, with the net tuition price only $2,495. For Wayne State, the average student paid 44.4 percent of the sticker price of tuition and mandatory fees. Compared to the statewide average, Wayne State's sticker price was $5,104 while the net tuition price was $2,266. The figures do not include any loans obtained by students.
The report also showed that the level of institutional financial aid per student attending Wayne State is fourth highest among the state's public universities while the amount of state aid per student is the lowest at 15th.
"The findings included in the study illustrate the effort of Michigan's public universities to maintain a level of affordability for our students," said Nancy Barrett, Wayne State University provost and senior vice president, academic affairs. "At Wayne State University, we have remained committed to offer an affordable education to our students even in the midst of reduced state appropriations to higher education and tuition caps."
For more information on the study, please visit www.pcsum.org and follow the links to the report.
Wayne State University is a premier institution of higher education offering more than 350 academic programs through 12 schools and colleges to more than 33,000 students in metropolitan Detroit.