Faced with declining enrollment and a projected deficit at the end of the fiscal year in June, the university is taking steps to improve residential and overall enrollment in the coming years, including awarding nearly $100,000 in housing grants for the spring semester and providing an additional $1 million for student financial aid next fall. Director of Public Affairs Bob Caswell said the $1 million additional student financial aid would be on top of the roughly $7 million of university funds USM provides for financial aid to students each year. President Selma Botman addressed the financial implications of the 4 percent decrease in fall credit hours, which officials estimate will result in tuition and fee revenues to be 2.3 percent — or $1.9 million — below budget, on the USM Public Affairs website this week.
