Saturday, January 31, 2015

UMd Forced to Increase Its Tuition Mid-Year - Molly Greenberg, DCInno

State funding for local universities has dropped significantly over the past few years. Virginia Commonwealth University was forced to cut $21 million from its budget in 2014 to help the state meet an estimated $881 revenue shortfall. Now, Maryland's Department of Budget and Management has announced a $40.3 million cut for the University System of Maryland budget, resulting in a $15.6 million loss for UMd. UMd had to do something to make up for the loss in financing, which is why the USM Board of Regents approved a two percent tuition hike mid-year – the first of its kind in 12 years.

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