ROCHESTER, Mich. – Oakland University is raising tuition by 8.48 percent for the coming school year.
The tuition hike was approved Tuesday by the Board of Trustees.
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"The tuition increase approved at our Board meeting today will generate additional resources which Oakland University needs to continue offering one of the state's best-valued and highly regarded educational experiences," OU Board of Trustees Chairman Mark E. Schlussel said in a statement.
In addition, the Board approved differential tuition rates for the School of Health Sciences, School of Business Administration, School of Nursing and School of Engineering and Computer Science. Differential tuition charges a higher rate for programs that are more expensive to deliver, have shown high demand over several years and have high job placement rates for students.
According to OU, the money will be used for:
- Increasing OU financial aid scholarships by 11.7 percent, or $4.2 million
- Assisting seniors toward graduation, an additional $1.1 million will be awarded in FY2016
- Hiring additional faculty
- Hiring additional advisers
- Supporting faculty and student research
- Enhancing career services
- Supporting internship opportunities
- Supporting additional labs and specialized teaching spaces
- Acquiring high-tech and state-of-the-art equipment