DETROIT — Wayne State University's Board of Governors today approved a general fund operating budget for fiscal year 2018 that calls for a tuition increase of 3.75 percent and keeps the increase to $16.00 or less per credit hour for all undergraduate students. The increase is below the state's tuition restraint cap.
The overall operating budget includes a 3.75 percent increase in financial aid bringing Wayne State’s institutionally funded financial aid to $74.2 million –— an increase of more than 150 percent since 2007. More than 13 percent of Wayne State students have their tuition and fees fully funded through financial aid. That number is expected to grow through the Wayne Access Award that launched in December for incoming freshmen and provides additional financial assistance to the most needy students.
"We do everything we possibly can to limit tuition increases because we know that our students will feel the effects of the increase," said Board of Governors Chair Sandy Hughes O'Brien. "It is incumbent upon us to balance the need to maintain quality, despite the state's continued disinvestment in higher education, to make the cost of attendance as affordable and accessible as possible for all students. This budget will allow us to sustain the excellence of Wayne State and maintain this board's commitment to keep the increase below the state's tuition restraint cap."
Wayne State University President M. Roy Wilson added, “In recent years we have worked hard to identify new efficiencies and ways to streamline our operations to try and avoid or minimize tuition increases. We have cut millions of dollars from operations over the past decade, and are currently in the process of changing our budgeting process and financial systems to build in even greater discipline and accountability. This is critical to ensuring we continue to offer a top-notch education at a good value in one of the most exciting and resurgent cities in the nation.”
Despite the recent Michigan House-Senate conference committee’s decision to give the state's 15 public universities an average two percent increase, funding for Wayne State remains below 2011 levels.
Also approved in the budget was a significant discount for student semester parking passes starting next fall. Students who buy parking passes can realize a savings of 25 percent, which will help students with their overall attendance costs, and encourage greater presence on campus for both academic and non-academic activities. The overall goal is to provide every opportunity to enhance student success, and enable students to be more engaged in the campus community, activities and organizations.
Wayne State University is a premier urban research institution offering more than 350 academic programs through 13 schools and colleges to more than 27,000 students.