A “modest tuition increase” is likely this fall in light of the volatile financial situation caused by COVID-19, UM System President Mun Choi said Thursday.
Choi made the remark at an online special session of the UM System Board of Curators held to provide a budget update during the pandemic. That increase will be discussed in more depth at the June 18-19 curators meeting, Choi said. He did not say whether the increase would be systemwide.
There is no end in sight for budget cuts and personnel reductions, according to a report from the board’s Finance Committee and system Chief Financial Officer Ryan Rapp, as “leadership anticipates further personnel reductions will remain a potential necessity.”
As of May 13, MU has laid off 49 employees, furloughed 899, reduced salaries of 995 and not renewed the contracts of 33.
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