The University of Michigan will increase its in-state tuition by 1.9 percent — the smallest in-state tuition increase in six years — and raise overall financial aid for in-state undergraduates by 11.2 percent.
In-state tuition is set to increase by almost $300 to $15,588. Almost 26 percent of in-state undergraduates paid no tuition last fall, and about 70 percent of in-state students received aid either from scholarships, grants, loans or work-study jobs.
Students will pay more to live on campus next year. The school is raising room and board rates by 4 percent to $11,996.
The increase will go toward essential housing services, future renovations, according to the university. The school also plans to use the increase to support pre-existing investments in renovated buildings. Need-based grants will cover this cost for students.
Tuition will increase by higher rates for out-of-state, non-undergraduate students.
Out-of-state tuition is set to go up 3.7 percent, while graduate students will see a 3.2 percent increase.
International students on F- and J-type visas will also have to pay a new $500 fee for each term. The new cost will be used for "sustaining and enhancing services to support this important student segment."