The Saginaw Valley State University Board of Control approved increasing tuition during the Board’s regular meeting on Monday.
The tuition hike is $22.50 per credit hour, which brings the cost to $408 per credit hour. For the upcoming 2023-24 academic year, a Michigan undergraduate student taking 30 credits will pay $675 or 5.8 percent over the prior year. SVSU President George Grant, Jr. says raising tuition is never easy or pleasant, but says it’s the right decision at this time with the recent rate of inflation as the school supports investments to improve campus safety, and sustain expanded mental health resources, academic support services and more.
The Board also approved a new 3-year contract with the SVSU Faculty Association that provides salary increases of 4 percent in the first year and 3 percent in the two following years, as well as increases for health insurance and other benefits.
And SVSU has increased investment in financial aid with around $24 million in institutional aid awarded to students for the current fiscal year.