Oakland University raises tuition by about 4%

Posted at 5:16 AM, Jun 07, 2016
and last updated 2016-06-07 05:16:25-04

Officials have approved a nearly 4 percent tuition increase for undergraduate and graduate students at Oakland University.

Oakland University's Board of Trustees raised tuition by 3.95 percent for undergraduate students and 3.93 percent for graduate students when it approved a $263.5 million budget for the Rochester school's 2016-2017 academic year on Monday.

The tuition increases mean undergraduate students will pay about $11,970 annually and graduate students will pay about $16,300 annually. They come a year after trustees approved a nearly 8.5 percent increase, more than twice the state's cap on tuition increases, which cost the university $1.2 million in state aid but generated $12 million in revenue.

The new hikes are expected to generate an additional $10.4 million in revenue for Oakland University.