U-M Keeps Undergraduate Tuition Hike To 2.6 Percent

The University of Michigan has approved a 2.6 percent increase in tuition and fees for in-state undergraduates. 
The Board of Regents met Thursday in Ann Arbor to adopt a $1.8 billion general fund budget for the 2014-15 academic year. 
The university says in-state undergraduate tuition is rising 1.6 percent, while higher fees account for the rest of the cost increase.
Tuition is rising 3.4 percent for out-of-state undergraduates, while tuition for most graduate programs is rising 2.4 percent.
Michigan says the budget includes a $19.5 million increase in undergraduate financial aid. It also includes money to hire 60 to 80 more faculty members to reduce class sizes.
The university says it's expecting to get 5.8 percent more in state funding for the year.