Local

UMinn Has Grand Plans For Surplus $25 Million

View Comments
(credit: CBS)

(credit: CBS)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up
Today's Most Popular Video
  1. WCCO Viewers Choice For Minnesota's Best Costume Shop
  2. Meet This Week's Pet Guest: Stormie Grey!
  3. 'Operation Warm' Raising Money To Give Kids Winter Coats
  4. 4 Things To Know For Oct. 24, 2014
  5. Hopkins Teammates Form A Close Bond Off The Field

MINNEAPOLIS (AP) – The University of Minnesota has been budgeted about $25 million more than it was expecting.

Officials are already making plans for the money. They’ll spend some of it on scholarships and faculty hires, and they’ll stash some away for a rainy day.

The university got $545.3 million from the state. That was a 7.8 percent cut, but officials were expecting a steeper cut so they budgeted for $520 million.

University President Eric Kaler tells the St. Paul Pioneer Press it was too late to offer tuition relief this fall. But in the spring, some 13,400 low- and middle-income Minnesota students will get one-time scholarships averaging $310.

The school will also use $4 million to hire science and engineering faculty. It will also hang on to about $6.1 million.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,916 other followers