DETROIT - Wayne State University's Board of Governors today approved a $582.7 million operating budget for fiscal year 2015, a 1.1 percent increase from last year that includes investment in classroom technology, renovations of the university's Student Center and additional student financial aid. The budget increase is less than the rate of inflation. 

"Today the Board approved a budget that will help ensure Wayne State's unique mission among Michigan's public universities," said WSU President M. Roy Wilson. "We are Michigan's only urban, public, research university. And throughout our nearly 150-year history, we have provided access to academic and research excellence for a diverse group of students. Our mission serves our students, our community, our state and beyond. This budget is also possible because the State is beginning to reinvest in higher education. We are pleased with the proposed budget and performance metrics because they represent an investment in students and Michigan's future. The Pell grant metric is an important addition because the grants make it possible for low- and middle- income students to receive the education necessary for their success, and to fill Michigan's high-demand jobs."

The budget also includes a tuition increase of $10.45 per credit hour, or 3.2 percent. This calculates to an additional $313.50 per year for a resident undergraduate taking 30 credit hours.  To mitigate tuition increases for those needing financial assistance, Wayne State will increase its financial aid by more than $900,000. With this increase, its institutionally funded financial aid is now $63.5 million, an increase of more than 200 percent over the past decade. Eighty-seven percent of all WSU undergraduate students receive some type of need-based or merit-based financial aid; the total financial aid budget is $351 million.  

"We know that even a slight increase in tuition is a concern for current and prospective students and their families," said Debbie Dingell, chair of WSU's Board of Governors. "And we are doing all we can to provide students with financial aid to help them pay for their education. We are also doing all we can to control costs, which is one of the reasons this budget increase is lower than the rate of inflation."

To balance the budget, the university implemented $7.7 million of budget reductions, including the elimination of 75 faculty and staff positions, some of which were vacant. Over the last five years, the university has cut $75 million from its base budget. Governor Dingell added, "Since I've been on the board, we have relentlessly pursued ways to increase our efficiency while maintaining and improving our effectiveness. We will not compromise on our academic or research quality, but we have to find ways to control and eliminate costs. The Board and the administration are laser-focused on serving our students and maintaining our historical legacy of access to excellence."

For more information on tuition at Wayne State, visit wayne.edu/tuition.

Wayne State University is a premier urban research institution offering more than 370 academic programs through 13 schools and colleges to nearly 28,000 students.