DETROIT - Wayne State University's Board of Governors today approved a $602 million operating budget for fiscal year 2016 that calls for a tuition increase of $10.75 per credit hour, or 3.2 percent, which complies with the state's tuition cap.

The overall operating budget is up 3.3 percent from last year and includes continued investments in classroom technology, research labs, renovations of the university's Student Center and an increase in available student financial aid. To balance the 2016 budget, the university will implement $10.6 million of budget reductions, including the elimination of 50 faculty and staff positions, about half of which are vacant.

"Approval of this budget will allow Wayne State to uphold its academic excellence and make strategic investments to enhance our student experience," said WSU President M. Roy Wilson. "Although we continue to operate during very challenging fiscal times, our students were top of mind during the budget planning process."

Board chair Gary Pollard said, "We understand that every increase in tuition is felt by our students, and that's why the Board of Governors was committed to remaining within the state's tuition cap. We feel that Wayne State remains a good value - especially for a major research university and a wise long term investment for our students."

To mitigate tuition increases for those needing financial assistance, Wayne State will increase its financial aid by more than $2.5 million - or 3.9 percent - this year. With this increase, its institutionally funded financial aid is now $66.3 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 $342 million.

For more information on tuition at Wayne State, visit: http://budget.wayne.edu/Budget/tuition-FAQ-2015-2016.aspx.

Wayne State University is a premier urban research institution offering more than 380 academic programs through 13 schools and colleges to nearly 28,000 students.