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The budget includes an increase of 10.4 percent in existing financial aid programs, bringing the university’s total financial aid investment to more than $15 million for the fiscal year.

“University of Michigan-Dearborn’s budget reflects our commitment to investing in academic excellence, student success and increasing access to a University of Michigan degree,” said Daniel Little, chancellor, University of Michigan-Dearborn. “We know a college education has the ability to transform our students’ lives and the region as a whole, and we continue to work hard to reduce costs so that we can invest in our most pressing priorities.”

The university has redirected approximately $8 million from its operating budget over the past decade to support the university’s highest priorities. This year’s budget includes an additional $465,000 in cost-cutting savings.

The regents approved a 4.1 percent increase to resident undergraduate tuition, a 4.2 percent increase to resident graduate tuition and a 2.1 percent increase to non-resident undergraduate and graduate tuition. The plan also meets the state legislature’s tuition restraints approved earlier this month.

Tuition and fees for a typical in-state, full-time undergraduate student will increase by $235 per semester to $6,016, based on 15 credit hours. The cost of tuition and fees for graduate students varies by program.

The $143 million budget includes $24.8 million from state funding, an increase of just more than $770,000, or 3.2 percent.

������-Dearborn has created a website, http://umdearborn.edu/rr_understanding_tuition/, to help students better understand the various factors used in determining tuition rates and resources available such as financial aid and scholarship opportunities.