YPSILANTI -- Eastern Michigan is committing an additional $3.5 million in financial aid to students for the 2021-22 school year, reflecting the University’s commitment to minimize net costs for students and support their success. The additional funding brings the University’s total financial aid support of students to $54.8 million for the 2021-22 school year.
“As the nation emerges from the pandemic, we must do all we can to help students and their families as they work to get back on track in their education and their futures,” said James Smith, president, Eastern Michigan University. “Over the last 14 years, the University has increased financial aid by 156% from the $21.4 million in aid provided in 2007-2008. This commitment displays the University’s mission, as outlined in our strategic plan, to be an institution of opportunity with the state’s most diverse student body among Michigan’s public universities.”
The increased financial aid budget is included in the University’s overall general fund budget of $297 million that was approved today (June 10, 2021) by the Eastern Michigan University Board of Regents. The budget represents an increase of $8.9 million compared to the 2020-21 general fund budget.
Revenues include $213.0 million in tuition and fees, $80.6 million of state appropriations (which includes a one-time $3.0 million increase proposed by the Governor), and $3.4 million in departmental activities and other revenue sources.
If there are changes in the state appropriations proposed by the Governor once finalized, tuition and fees may be adjusted in order to maintain a balanced budget. Any increase to tuition and fees, if required, will not exceed the tuition restraint cap that the State of Michigan may impose.
Since 1980, state appropriations have dramatically declined as a portion of Eastern’s general fund budget. In 1980, state aid accounted for 72.5 percent of the University’s revenues to 27.5 percent coming from tuition and fees. Those numbers are now reversed, with state aid making up less than 25 percent of Eastern’s general fund revenues and tuition representing more than 75 percent.
The expenditure budget includes total personnel costs of $168.8 million, University-sponsored financial aid of $54.8 million as noted above, a net transfer budget of $40.0 million, and services, supplies, and materials of $33.4 million.
Eastern’s Board of Regents also approved an auxiliary activities budget of $39.9 million, an increase of $1.4 million over last year. Auxiliary activities include housing, food service and athletics operating costs, along with costs for other services. The increase reflects the projected year-to-year increase in enrollment of first-year students, many whom will live in residence halls and utilize dining services. It also includes an expected post-pandemic return to University hosted events such as high school graduations, proms and other revenue-generating events.
The budget reflects the University’s emphasis on academic quality and ensuring student success, leading to productive and fulfilling careers after graduation. These investments include:
Eastern’s commitment to academic excellence has been recognized by the University’s consistently high rankings in a variety of areas. Those include a listing as the country’s top program in clinical research administration, designation as the number one military friendly school in Michigan and the Princeton Review ranking Eastern among the “Best in the Midwest” for 18 consecutive years.
About Eastern Michigan University
Founded in 1849, Eastern is the second oldest public university in Michigan. It currently serves more than 16,000 students pursuing undergraduate, graduate, specialist, doctoral and certificate degrees in the arts, sciences and professions. In all, more than 300 majors, minors and concentrations are delivered through the University's Colleges of Arts and Sciences; Business; Education; Engineering and Technology; Health and Human Services; and, its graduate school. EMU is regularly recognized by national publications for its excellence, diversity, and commitment to applied education. For more information about Eastern Michigan University, visit the University's website.