DETROIT — Wayne State University's Board of Governors today approved a general fund operating budget of $655 million for fiscal year 2019 that calls for a tuition increase of 2.9 percent. This translates to $10.84 or less per credit hour for all undergraduate students, and keeps the increase well below the state's tuition restraint cap of 3.8 percent.
The overall operating budget includes a 7.1 percent increase in financial aid, bringing Wayne State’s annual institutionally funded financial aid to $79.4 million –— an increase of more than 200 percent over the past decade. Fourteen 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, which provides incoming freshmen with additional financial assistance based on need.
In addition, Wayne State University will be offering several new initiatives to help students pay for their education, including:
- The Warrior Way Back program (go.wayne.edu/wayback), which provides a path back to the university for former Wayne State students who have debt, but no degree;
- The Warrior Senior Sprint program, which will provide full spring/summer tuition scholarships for students who are eligible to graduate by fall 2019 to help them cross the finish line;
- A 50 percent tuition discount for active duty military students;
- Continuation of a significant discount on student semester parking passes.
"Although it never feels good to raise tuition, I’m pleased we were able to limit the increase because our students feel the effects of any increase, big or small," said Board of Governors Chair Sandy Hughes O'Brien. "It’s our job as a Board to help make the cost of attendance as affordable and accessible as possible for all students. That’s why we’re excited about our new financial aid programs. This budget will allow us to sustain the excellence of Wayne State and continue to increase the value of a Wayne State degree.”
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.