Eastern Michigan University commits largest-ever $55.6 million in financial aid for 2022-23 to support student success

Financial aid budget has increased 60% over the last 10 years

An elevated view of the Science Complex bridge and Hall Library, looking toward the Student Center.

YPSILANTI --  Eastern Michigan University is committing $55.6 million in financial aid for students in the 2022-23 academic year, reflecting its commitment to minimize net costs for students and support their success. The additional funding brings the University’s total financial aid budget to the largest amount in its history.

“We provide financial aid support to approximately 68% of our total student population, and to about 90% of our first-year students,” said Eastern Michigan University President James Smith. “This effort to reduce the cost of attendance exemplifies our dedication to supporting students and their families, particularly in this challenging time as we address the impact of the pandemic and dramatic increases in the costs of everyday items such as food, gasoline, and housing.

“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 funds are included in the University’s overall general fund operating budget of $306.7 million, which was approved today (June 16, 2022) by the University’s Board of Regents.

Revenues include $216.4 million in tuition and fees, $85.3 million in state appropriations, and $5 million in departmental activities and other revenue sources.

If there are changes in the state appropriations proposed by the Governor once the state higher education budget is finalized, tuition and fees may be adjusted 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 EMU’s general fund budget. In 1980, state aid accounted for 72% percent of the University’s revenues to 28% percent from tuition and fees. Those numbers are now reversed.

The budget includes a 3.9% increase in tuition and fees for undergraduate students, and a 2% increase in graduate and doctoral tuition.

The University’s Board of Regents also approved an auxiliary funds operating expenditure budget totaling $45.5 million for the 2022-23 fiscal year. Auxiliary activities include housing, food service and athletics operating costs, along with costs for other services.

The overall General Fund budget reflects the University’s emphasis on academic quality and ensuring student success, leading to productive and fulfilling careers after graduation. Recent investments include:

Eastern’s commitment to academic excellence has been recognized by many outside organizations. These include a ranking as the country’s top program in clinical research administration, designation as the number one military-friendly school in Michigan, the Princeton Review ranking Eastern among the “Best in the Midwest” for 19 consecutive years, and being named among the top 100 universities in the nation for social mobility by U.S. News and World Report. Visit the University’s rankings and points of pride websites to learn more.

About Eastern Michigan University
Founded in 1849, Eastern is the second oldest public university in Michigan. It currently serves more than 15,000 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. National publications regularly recognize EMU for its excellence, diversity, and commitment to applied education. For more information about Eastern Michigan University, visit the University's website. To stay up-to-date on University news, activities and announcements, visit EMU Today.

June 16, 2022

Written by:
Walter Kraft

Contact:
Melissa Thrasher
mthrashe@emich.edu
734-487-4401