MINNEAPOLIS (WCCO) — Students at the University of Minnesota are about to experience something that hasn’t happened in decades: A tuition freeze.
Next week, the University’s Board of Regents is likely to approve the plan, which comes with strings attached from a deal between the University and the legislature.
The state gave the University millions of extra dollars in the budget. In return for additional money from the state, the University promises to raise graduation rates up 3 percent over 4 years.
The Board of Regents received details in a budget hearing Wednesday; with the major point being tuition for in-state undergraduate students will be frozen for the next 2 years at current levels.
That’s about $12,000 a year. There’s also more state and federal loans and grants available.
Students can’t help but agree with the move.
“It’s affordable for this year because I have saved up a lot of money from working for the last few years, but next year that all changes because you can only save up so much money when you are working part-time in high school,” sophomore Taylor Praus said.
“Scholarships and everything do help out, but as a student I am obviously for the freeze and not for any increase in tuition,” senior Bryanna Sowers said.
To put this in perspective, the last group of students at the University to get a tuition freeze may have been the parents of these students — and maybe grandparents.
The University cannot pinpoint exactly when the last tuition freeze was, but they say it may be at least 35 years.
As for out-of-state students, who make up about 18 percent of the University, they will see about a $1,000 tuition hike.
Grad students, especially in the medical and law schools, will also pay more in tuition.