Thursday, July 14, 2011

Ferris Board of Trustees Restrain Tuition Rates for 2011-12 Academic Year

Students coming to Ferris in the Fall 2011 semester now know what the tuition rates will be for the 2011-12 academic year.

Recognizing the need to control costs for students, the Ferris State University Board of Trustees restrained tuition growth to just 5.14 percent for undergraduate and first professional students for the 2011-12 academic year during its regular meeting today (July 13). Trustees also approved a restrained 5.11 percent increase for graduate students.

Through sound fiscal management, the university reduced its budget by $8 million to minimize the tuition increase for students.

State funding to public universities was reduced by an unprecedented 22 percent with seven percentage points of that reduction to be restored to universities holding tuition increases to less than 7.1 percent. The net 15 percent reduction for Ferris totals $7,294,900. This revenue loss makes for the lowest appropriation level for Ferris since 1992. State funding will comprise just 22.5 percent of Ferris’ fiscal year 2012 recommended general fund operating budget.

For the full version of the story, visit: http://www.ferris.edu/htmls/news/news/News.cfm?AnnouncementID=1501&CatID=1

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