Trustees approve 2012-13 budget with focus on quality, access
The Oakland University Board of Trustees
has approved a 2012-13 budget that strives to enhance the already high
quality of an Oakland education.
School officials are also
working to broaden student access through a significant increase to
financial aid resources, and to bolster the value of student and family
investments in higher education by ensuring that more students complete
their studies, earn a degree and move on to a career or a graduate
education program.
Wary of rising education costs and the
considerable debt many of the nation's college students face, the Board
of Trustees has limited a 2012-13 academic year tuition increase for
undergraduates to $10.25 per credit hour, or 2.96 percent. Graduate
students will pay $17 more per credit hour, which represents an increase
of 2.94 percent.
These adjustments to tuition rates,
necessary to meet rising operating cost obligations, nonetheless keep
Oakland among the most affordable universities in the state.
"The success of our students depends to a large degree on the strength
of the academic foundation they lay while attending Oakland. Because
we're committed to maintaining top quality programs supported by
outstanding faculty and staff, students have a great opportunity to rise
to their potential," said Gary Russi, OU president.
"This
being said, it's also clear that we need to keep higher education within
the financial reach of as many students as possible. I believe the
budget the board approved today achieves a sound balance between each of
these crucial concerns."
Anticipating the arrival of
roughly 20,000 students this fall, the university is maintaining its
no-added-fees tuition pricing policy – the only one of its kind among
the state's 15 public universities.
In addition, officials
have approved a measure to boost financial aid resources by $2 million,
are continuing to guarantee all first-time freshmen full tuition aid,
less an expected family contribution as determined by the U.S.
Department of Education, and will maintain the university's Special
Tuition Assistance Fund to help students with deteriorating financial
circumstances.
To learn more about an Oakland University education, prospective students and their families are encouraged to visit oakland.edu/go. To learn more about how the university is working to keep an Oakland Education within reach, visit oakland.edu/affordable.
The Oakland University Board of Trustees has approved a 2012-13 budget that strives to enhance the already high quality of an Oakland education.
Created by Katherine Land - Deleted (land@oakland.edu) on Monday, August 6, 2012 Modified by Katherine Land - Deleted (land@oakland.edu) on Monday, August 6, 2012 Article Start Date: Monday, August 6, 2012
