Hike funding

GV Sees Tuition Rise Along With Increased State Funding To University – Grand Valley Lanthorn

On June 24, the Grand Valley State University Board of Trustees approved a 2.9% tuition increase for the 2022-23 school year.

For undergraduates who have earned less than 55 credits, this equates to a $196 per semester increase in tuition. The new tuition cost per semester is $6,976, or $586 per credit hour.

For students who have already earned 55 or more credits, tuition has increased by $206 per semester, bringing the overall tuition per semester to $7,326.

In the context of recent increases in tuition fees, university officials pointed to state government underinvestment as one of the main reasons for their decision to raise rates.

This year, however, state allocations to GVSU and other universities have increased under a $22.2 billion education budget signed by Governor Gretchen Whitmer in July. The state approved $2 billion in funding that is shared among Michigan’s 15 public universities. GVSU received more than $81 million in funding, more than $7 million more than it received from the state last year.

Governor Gretchen Whitmer welcomed the legislative passage of the increased funding, which was part of a larger statewide budget totaling $76 billion.

The budget will invest in every student and every classroom, protect public health and public safety, expand mental health resources, grow Michigan’s economy and workforce, and empower working families and communities. said Whitmer in a statement.

As a result of rising tuition and state aid, GVSU ranks 10th in tuition out of 15 Michigan universities on the list, with number 1 being the most expensive university. GVSU also ranks 14th in cost of on-campus room and board and 12th in overall cost of attendance.

The tuition hike comes as the burden of national inflation threatens students’ ability to afford daily necessities. Increases in basic commodities like gasoline, food and the like have had a months-long impact on students wondering how to pay for their education.

University officials, however, defended their decision as a necessary increase to ensure continued operations.

Outgoing GVSU Board Chair Megan Rydecki drew comparisons to other universities in the state when contextualizing the decision, which was the second-lowest tuition increase since 2004.

“It should be noted that with the increase, and even with room and board, that puts us 12 out of 14 in total cost among public universities in Michigan,” Rydecki said. “With the continued commitment to financial aid, we can continue to show that we are good stewards of our funds and also provide them with an excellent return on that investment.”

Compared to other universities in Michigan, GVSU is one of the universities with the lowest tuition increases.

In June, Michigan State University’s Board of Trustees voted a 3% tuition hike. The Western Michigan University board of trustees also opted for a 3.85% increase.

Although increased public funding for higher education has bolstered the university’s budget, tuition fees remain an important factor in continuing to provide high-quality education, programs, and housing.

As inflation issues have a direct impact on students’ ability to pay their living expenses, the cost of funding GVSU operations has also increased. A 2.9% increase the board said was necessary to ensure financial health and affordability, with board secretary Stacie Behler pointing to the inclusion of nearly $70 million in scholarships and aid to students.