University of Minnesota regents OK $3.6 billion budget

Stefanie Botelho's picture

The University of Minnesota's Board of Regents approved President Eric Kaler's budget for next school year and more than $290 million in facility projects Friday.

The new $3.6 billion budget freezes resident undergraduate tuition for the second year in a row and includes $23 million in spending on faculty hires, classroom upgrades and other investments. The budget will also trim more than $20 million in administrative costs, mostly in staff positions shed through attrition.

The tuition freeze was part of a deal the university struck with legislators last year in exchange for a boost in state aid. The new budget raises tuition for out-of-state and most graduate students.

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