After an unanimous vote by the Board of Regents, Eastern Michigan University got the green light to increase its amount in scholarships available to students next year.
An additional $2.3 million has been approved for the FY 2012-2013 financial aid budget, pushing the current funds of $33.7 million just over the $36 million mark.
The 6.9 percent increase is tailored for two areas: academic awards with $2 million and athletics with $290,000.
President Susan Martin announced at Tuesday’s Board meeting changes to the budget were made with EMU students in mind. Enrollment strategies for all types of students — transfer, first-time-in-any-college, international and graduate — are constantly evaluated for benefits.
With financial incentives for college students to stay in Michigan after graduation, Martin said, the state will hopefully become rejuvenated.
“The increase in our financial aid commitment to students represents the latest evidence of our determined effort to support Michigan students and their families,” she said.
Raises in the financial aid budget can be traced back for four years. It’s estimated at the end of 2013, the budget will have increased 68 percent; a 6.9 percent increase is scheduled for 2013.
“We support this proposal,” John Lumm, chief financial officer to EMU, said. “This has been an ongoing assessment so we can better assist those earning a college education.”
Likewise, EMU has focused on maintaining low costs, while state appropriations fell 15 percent. Tuition increased by 2.5 percent over past three years, which is lower than any other university in the state. It translates to current students paying $20 more per credit hour than in 2008.
The board was asked to authorize the proposal prior to approving the budget next June, so recruiting efforts can be made during the course of the year.
Lumm said inside the $2.3 million increase, $1 million supports a growth goal in FTIAC’s. The goal for next year’s number of FTIAC’s is 2,400; this is 300 more than 2011 or a 13 percent year-to-year increase.
Senior Josh Cavalry said although fees seem miniscule at first, the accumulative amount after four years is hard to swallow.
“I’ve been here for four years straight and I appreciate not dealing with tuition that’s through the roof like people do at [Michigan State University], for example,” Cavalry said. “But the little costs definitely add up; parking, room and board, books … What’s the point in bragging about zero percent tuition increase if everything else is going up?”
Ronnie Shultz, a junior, expressed disapproving views, but appreciated more scholarships.
“I was actually beginning to question how important administrative costs matter to the university,” Shultz said. “It seemed pretty uneven. But now I’m impressed that they’re putting so much back into scholarships. We’re kind of the reason they’re here, so they should make it worthwhile for us.”
As it stands, scholarships may be accessed through the ‘Admissions’ sector on Eastern’s website. Aid varies with the classification of student.
For example, the National Scholars Program Scholarship is offered to incoming freshman and international students who are considered non-residents. The 2012-2013 University Scholarship is available for undergraduate students whom have not yet received a bachelor’s degree; all applications must be submitted by January 31, 2012.
A quick reference guide that displays the most frequently awarded scholarships may be accessed at www.emich.edu/finaid/scholarships/Scholarships12-13.pdf.
The awards range from full rides to exclusively tuition costs, etc. Most require a minimum of a 3.0 GPA.
