May 11, 2012 at 8:19 am
ST. PAUL, MN (AP) - A budget proposal before University of Minnesota regents Friday raises undergraduate tuition by 3.5 percent, boosts financial aid and gives professors and staff a raise.
The proposal from university President Eric Kaler reflects priorities he outlined earlier this year _ rebuild faculty, invest in scholarships and hold down tuition increases. The proposed tuition hike is slightly above last year's annual rate of inflation. The average student would pay $21,300 a year with room and board, an increase of $700.
After three years of furloughs, stagnant wages and higher health-care costs, staff would get a 2.5 percent raise.
Minnesota Public Radio News (http://bit.ly/IQffWi) says Kaler would also spend $34 million to hire new faculty, fund programs and improve libraries and classrooms.
Regents will review the budget and listen to public comment Friday afternoon.
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