The Saginaw Valley State University Board of Control approved increasing tuition to $408 per credit hour during the Board’s regular meeting Monday, June 19.
For the upcoming 2023-24 academic year, a Michigan undergraduate student taking 30 credits will pay $12,240, an increase of $675 over the prior year (5.8 percent).
“The safety and overall well-being of our students, faculty and staff is my highest priority,” said George Grant Jr., SVSU president. “Raising tuition is never easy or pleasant, but given the rate of inflation in recent years and our commitment to meet our students’ needs, this increase is the right decision at this time, as we support needed investments to improve campus safety, and sustain expanded mental health resources, academic support services and more.”
At the same meeting, the Board also approved a new 3-year contract with the SVSU Faculty Association that provides salary increases of 4 percent in the first year (2023-24) and 3 percent in the two following years, as well as increases for health insurance and other benefits. The Association (MEA/NEA) represents nearly 270 faculty. Members of the Association ratified the contract Thursday, June 15.
SVSU continues to have the lowest undergraduate tuition rate among Michigan’s public universities.
The university also has significantly increased SVSU’s investment in financial aid with approximately $24 million in institutional aid awarded to students for the current fiscal year.
