MSU President Lou Anna K. Simon and the Board of Trustees approved the 05-06 budget on Thursday which included the rate increases.
Students will pay an extra $587.50 in tuition, a $65 energy fee... and incoming freshmen will pay a New Student Fee of $292.50. There will also be a raise in the Housing Costs of $286. Both the housing increase and the energy fee are per semester prices... but, they are the university is counting on the state legislature to allot money which would allow for rebates to cut both those totals in half.
Tuition and fee increases are a 13.5% hike for new students... 9.3% for returning students. President Simon said it was a conscious decision to keep students moving towards their degree.
The MSU financial aid base has also been expanded. More students will be eligible to receive assistance... and the poorest students will pay less the those who don't require as much help. In some cases, needy students will actually pay less for their education than they did last year.
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