EAST LANSING, MI – It will cost more to attend Michigan State University next year, and the year after that.
AUDIO: MSU Trustees today approved a two-year budget plan calling for tuition hikes of 5.2% this fall, and another 4.9% the following year.
Officials say getting federal stimulus money could lower that figure to 2.5% to 3% this fall for resident undergrads. The plan includes a 10% budget cut over those two years.
MSU president Lou Anna Simon says the university expects to achieve that, in part, by cutting some 600 jobs, mainly through attrition.
"The current estimate is about 20% of the 600 will be layoffs. So, people are being affected by this, so the question is how to balance the effect on people, and sustain quality for the institution?"
To help offset the higher tuition, MSU will increase financial aid money by 30% over those two years.