FRANKENLUST TWP, MI—The Saginaw Valley State University Board of Control agreed on a 3.9% tuition increase during their Monday, June 20 meeting.
An in-state undergraduate student enrolled in 30 credits, or two 15-credit semesters will pay $11,565 for classes next school year. That’s a $435 increase when compared to last year, and does not include the cost of room and board, a meal plan or books.
“We understand many students and families have not fully recovered financially from the pandemic and any tuition increase is challenging for them,” said retiring University President Don Bachand “We also are getting hit with price increases just like everybody else, and we must maintain our standards for high-quality teaching and learning, so that our students are prepared for careers in their chosen fields. We hear from employers every day who are counting on us to prepare highly qualified graduates, so we have taken steps to keep an SVSU degree within reach financially.”
Tuition at SVSU was frozen in 2020 due to the COVID-19 pandemic but was raised for the 2021-22 school year, going up 2.9%.
Bachand says significant investments have been made to the school’s scholarship programs, infrastructure and financial aid in part due to an increase in donations from private entities or alumni to fund scholarship support.
During Monday’s meeting, the board also approved spending up to $925,000 for walkway, road, and parking lot repairs. The university shared on Thursday, June 23, that it would also be working with Wildfire Credit Union as its new financial services partner.
Under the agreement Wildfire will commit $100,000 in scholarships each year, an on-campus presence including ATMs, a mini-grant program to support SVSU student organizations, financial literacy education and continued support of SVSU athletics.
Despite the increase in tuition, the scholarship support will play a role in aiding more students in the completion of their degrees and in beginning careers in the Great Lakes Bay Region and beyond.
Over the course of the 10-year agreement, SVSU will initially devote the scholarship funds to support incoming transfer students- allowing a full-time student to receive $1,000 per year for up to 2 years.
President & CEO of Wildfire Tim Benecke said SVSU faculty and staff will also benefit from Wildfire’s proximity to campus and their ‘Work Place Perks’ program which will provide discounts and benefits on banking services.
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