Monday, August 11, 2014

Tuition up, support down: Has college finally broken the bank?

Tuition up, support down: Has college finally broken the bank? | Crain's Detroit Business:

FY 1994
FY 2004FY 2012FY 2013FY 2014Percent change
Average tuition3,2465,97310,41610,76611,142243.25%
Total state enrollment215,655250,841268,327267,388N/A23.99%
State appropriations per FYE student5,3915,7144,4994,650-13.73%
Total state appropriation1.16M1.43M1.21M1.24M1.27M8.84%
Total state appropriation in 2013 dollars1.85B1.81B1.25B1.26BN/A-31.65%
Total university general fund budgets2.34B3.79B5.52B5.76BN/A145.99%
Total tuition/fee revenue going to university GF budgets1.02B2.05B3.88B4.07B299.85%
Percentage of total university general fund budgets43.47%54.11%70.25%70.65%
Sources: Michigan Senate Fiscal Agency; Michigan House Fiscal Agency; Presidents Council, State Universities of Michigan.

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