University of Minnesota students worry tuition spike will increase loan burden

The University of Minnesota Board of Regents approved a $5. 1 billion budget, including a 6. 5% tuition increase for in-state undergraduates, the largest hike in 14 years. Students are concerned that the increase will worsen their financial situations, as 51% of first-year students graduated with an average debt of $29,615 in 2024. University President Rebecca Cunningham reassured that financial aid programs would mitigate the impact on low-income students, allowing them to avoid the tuition hike.

The budget also cuts academic programs by 7%, prompting faculty to voice opposition over potential staffing reductions. Cunningham justified the decisions by citing flat state funding, high inflation, and declining federal support. The tuition increase will raise annual costs to $16,132 for in-state undergraduates at the Twin Cities campus. Out-of-state undergraduates will face a 7. 5% increase, while other campuses will see varying hikes.

The situation reflects broader trends in higher education funding challenges and student debt concerns.