Eastern Michigan University commits an additional $ 3.5 million in student financial aid for fall 2021 to support student success; the total financial assistance budget of $ 54.8 million represents a 156% increase over the past 14 years
YPSILANTI – Eastern Michigan pledges an additional $ 3.5 million in student financial aid for the 2021-22 academic year, reflecting the University’s commitment to minimize net costs to students. students and support their success. The additional funding brings the University’s total financial assistance to students to $ 54.8 million for the 2021-2022 school year.
“As the nation emerges from the pandemic, we must do all we can to help students and their families as they work to get back on track with their education and their future,” said James Smith, president of Eastern Michigan University. âOver the past 14 years, the University has increased its financial assistance by 156% from the $ 21.4 million in assistance provided in 2007-2008. This commitment exemplifies the University’s mission, as outlined in our strategic plan, to be an institution of opportunity with the state’s most diverse student body among Michigan public universities.
The increased financial aid budget is included in the overall University General Fund budget of $ 297 million that was approved today (June 10, 2021) by the Eastern Michigan Board of Regents University. The budget represents an increase of $ 8.9 million over the 2020-2021 general fund budget.
Revenues include $ 213.0 million in tuition and fees, $ 80.6 million in government appropriations (which includes a one-time increase of $ 3.0 million proposed by the governor) and $ 3.4 million. departmental activity dollars and other sources of revenue.
If there are changes in the state appropriations proposed by the governor once finalized, the tuition and fees may be adjusted in order to maintain a balanced budget. Any increase in tuition and fees, if necessary, will not exceed the tuition restriction cap that the State of Michigan may impose.
Since 1980, state appropriations have declined considerably as part of the Eastern General Fund budget. In 1980, state aid represented 72.5% of the University’s income against 27.5% from tuition fees. These figures are now reversed, with state aid accounting for less than 25% of the Eastern General Fund’s income and tuition fees accounting for over 75%.
The expenditure budget includes total staff costs of $ 168.8 million, University sponsored financial aid of $ 54.8 million as shown above, a net transfer budget of $ 40.0 million $ 33.4 million in services, supplies and materials.
Eastern’s board of directors also approved an ancillary activities budget of $ 39.9 million, an increase of $ 1.4 million from last year. Ancillary activities include the costs of accommodation, catering and sports operations, as well as the costs of other services. The increase reflects the expected year-over-year increase in enrollment for first-year students, many of whom will be living in halls of residence and using food and beverage services. It also includes an expected post-pandemic return to events hosted by the University such as high school graduation ceremonies, proms and other income-generating events.
The budget reflects the University’s emphasis on academic quality and student success, leading to productive and rewarding careers after graduation. These investments include:
- $ 40 million to renovate and expand Sill Hall, home of the GameAbove College of Engineering and Technology;
- $ 16 million renovation of the University’s Recreational and Intramural (Rec / IM) building, with a focus on student health and well-being;
- Ongoing updates to classroom technology and expansion of lab / manufacturer spaces; and,
- New university programs that meet the needs of today’s changing economy and employers.
Eastern’s commitment to academic excellence has been recognized by the University’s consistently high rankings in a variety of fields. These include a list as the nation’s best program in clinical research administration, designation as Michigan’s # 1 Military-Friendly School, and the Princeton Review ranking Eastern as “Best in the Midwest” for 18 consecutive years. .
About the University of Eastern Michigan
Founded in 1849, Eastern is Michigan’s second oldest public university. It currently serves more than 16,000 students pursuing undergraduate, graduate, specialist, doctorate and certificate degrees in the arts, sciences and professions. In total, more than 300 majors, minors and concentrations are awarded by the colleges of arts and sciences of the University; Company; Education; Engineering and technology; Health and social services; and, his graduate school. UEM is regularly recognized by national publications for its excellence, diversity and commitment to applied education. For more information on Eastern Michigan University, visit the university website.