University of Minnesota approves largest tuition hike in a decade amid US education funding crisis
The University of Minnesota (U of M) Board of Regents has approved the largest tuition increase in more than ten years, marking a significant development in the landscape of US higher education.
In a 9-3 vote held on June 18, 2025, the board adopted a budget for fiscal year 2026 that includes tuition increases across all campuses and cuts to academic spending.
The decision comes as the university faces a steep reduction in federal and state support, with leaders citing an 'uncertain financial landscape' and warning of tough decisions ahead. As reported by KSTP, University President Rebecca Cunningham told the board that 'higher education is facing unprecedented challenges' and emphasized the need to ensure financial stability despite the difficult choices involved.
Tuition hike affects students across all campuses
Under the new budget, undergraduate tuition will increase by 4% to 7.5% depending on the campus. Graduate students will see tuition rise by 6.5% for residents and 7.5% for out-of-state students. According to KSTP, officials said this marks the steepest tuition hike in over a decade and is part of a broader effort to stabilize finances.
The board also approved a 7% cut in academic spending, a move that has drawn concern from students and faculty.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Here's A List Of Cheapest Steel Suppliers (See List)
Steel Suppliers | search ads
Search Now
Undo
During a public hearing the week prior to the vote, members of the university community expressed fears about the impact these changes could have on education quality and employee well-being.
Federal and state funding cuts deepen financial strain
University officials warned that a potential 30% reduction in federal funding and a 3.5% decline in state funding (adjusted for inflation) are exacerbating budget pressures.
Cunningham noted during the meeting, as quoted by KSTP, that 'we can all agree there are no easy choices this year.'
Board member Doug Huebsch defended the vote, saying, 'Not everyone is going to be happy with this budget… but it is our job and obligation to deliver a budget that's balanced and as fair as possible,' as reported by KSTP.
Low-income students promised protection
Despite the hikes, university leaders stressed that low-income students will not be adversely affected. Thanks to programs like the North Star Promise and sustained scholarship and aid efforts, tuition increases will be offset for qualifying students. As per KSTP, the administration reassured the public that affordability remains a priority.
The budget will take effect starting fiscal year 2026, as the University of Minnesota moves to navigate what leaders described as one of the most challenging periods for higher education in recent memory.
Is your child ready for the careers of tomorrow? Enroll now and take advantage of our early bird offer! Spaces are limited.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
32 minutes ago
- Time of India
US Stock Market Futures Slip: Dow, S&P 500, Nasdaq futures slip as markets wait and watch Fed rate-cut hopes amid Ukraine tensions
U.S. stock futures are sliding as investors adopt a cautious 'wait-and-watch' stance. The Dow, S&P 500, and Nasdaq are all showing modest declines amid uncertainty over two major drivers: the Federal Reserve's next moves on interest rates and sensitive U.S.–Ukraine discussions. Traders are weighing optimism over potential rate cuts against geopolitical risks, creating a delicate balance that has Wall Street on edge. Current Futures Snapshot Dow Jones Industrial Average (YM=F): 45,002.16, unchanged S&P 500 E-Mini Futures (ESU25): 6,466.50, down 2.75 points Nasdaq 100 E-Mini Futures (NQU25): 23,773.50, down 24.25 points These modest declines come as investors await key events later this week, including Federal Reserve Chair Jerome Powell's speech at the Jackson Hole Symposium and earnings reports from major retailers. Why Are Dow, S&P 500, and Nasdaq Futures Falling Today? Markets are taking a breather after weeks of strong gains. Investors are focused on the Fed's interest rate path, particularly as Fed Chair Jerome Powell prepares to speak at the Jackson Hole Symposium later this week. Analysts expect Powell to provide signals on whether September could see the first rate cut in a series aimed at supporting economic growth. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 most beautiful women in the world Undo At the same time, ongoing talks between President Donald Trump and Ukrainian President Volodymyr Zelensky are adding a layer of unpredictability. Any escalation or lack of progress could ripple through global markets, affecting investor sentiment and prompting cautious positioning in major U.S. indices. ETF Performance SPDR S&P 500 ETF Trust (SPY): $643.30, down $0.07 SPDR Dow Jones Industrial Average ETF (DIA): $449.05, down $0.39 Invesco QQQ Trust Series 1 (QQQ): $577.11, down $0.21 These ETFs mirror the slight declines in their respective index futures, indicating a cautious sentiment among investors. Live Events Fed Rate-Cut Speculation: What It Means for Investors A potential rate cut would typically support equities by lowering borrowing costs and boosting corporate earnings expectations. But markets remain sensitive to timing, scale, and the Fed's overall economic outlook. Traders are trying to balance hope for stimulus with caution over inflation trends and economic data, which have remained mixed. Market participants are closely monitoring the Federal Reserve's stance on interest rates. Futures pricing currently predicts an 84% chance of a 25 basis point rate cut at the September 16-17 Federal Open Market Committee (FOMC) meeting, down from 93% last week. This shift in expectations reflects concerns over inflation and economic data, leading to a more cautious outlook among investors. For the Dow, S&P 500, and Nasdaq, this translates into muted intraday moves and modest futures losses, as investors hesitate to take big positions before Powell's guidance. Analysts warn that any misinterpretation of his speech could trigger sharp swings in U.S. stock markets. Geopolitical Tensions Adding Pressure The U.S.–Ukraine dialogue is another key factor shaping market sentiment. Uncertainty over international aid, military cooperation, and political commitments has investors approaching risk assets cautiously. Even minor headlines from the talks can cause sudden spikes in volatility, particularly in sectors like defense, energy, and technology. This geopolitical risk compounds the market's 'wait-and-watch' mindset, meaning the Dow, S&P 500, and Nasdaq could remain range-bound until more clarity emerges. What Investors Should Know Right Now Expect volatility – Futures are likely to swing around Fed and Ukraine headlines. Sudden news could cause rapid moves in Dow, S&P 500, and Nasdaq futures. Focus on guidance, not predictions – Powell's statements will carry more weight than analyst forecasts. Diversification is key – Sector-specific risks mean spreading investments across industries and assets can help mitigate sudden shocks. While optimism exists around potential easing from the Fed, caution remains due to global uncertainty. Wall Street is essentially in a holding pattern, balancing the promise of stimulus with the realities of geopolitical tension.
Time of India
an hour ago
- Time of India
Emami Agrotech forays into branded staples market
Emami Agrotech Ltd, the Rs 20,000-crore edible oil , food and bio-diesel arm of the diversified Emami Group , on Tuesday announced its foray into the branded staples market. The move marks the company's expansion into India's over Rs 80,000 crore branded staples category, as part of its strategy to scale the foods vertical to Rs 2,000 crore in the next three-five years, an official said in a statement. The company announced the launch of Emami Healthy & Tasty branded atta, maida and sooji. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ben Thanh: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo "More than a category entry, this is a purposeful move... With this launch, we intend to enter from pantry to the centre of the Indian kitchen space and be an integral part of daily rituals, family meals, and emotional bonds around food," Emami Group Director Vibhash V Agarwal said. The Indian food industry is witnessing a steady shift towards branded staples, with consumers increasingly preferring hygiene, packaging and brand assurance over unbranded alternatives, the statement said. Live Events Emami Agrotech, an unlisted entity, said it aims to capitalise on this momentum with products backed by its established distribution network and digitally enabled supply chain . Since its launch in 2010, Emami Agrotech's Healthy & Tasty brand has expanded beyond edible oils to spices and soya chunks. With the addition of branded staples, the company said it intends to strengthen its position as a comprehensive kitchen solutions brand.
Time of India
an hour ago
- Time of India
China pledges to address India's rare earth needs, Indian source says
There is an upward trend in India-China relations and Beijing has promised to address New Delhi's needs on rare earths, a top Indian official and a source said on Tuesday, as the neighbours rebuild ties that were damaged by a 2020 border clash. Chinese Foreign Minister Wang Yi is visiting India for the 24th round of border talks with Indian National Security Advisor Ajit Doval and is also due to meet Prime Minister Narendra Modi on Tuesday, days before Modi travels to China for the summit of the Shanghai Cooperation Organisation . "There has been an upward trend. Borders have been quiet. There has been peace and tranquillity," Doval told Wang as he opened the talks. "Our bilateral engagements have been more substantial." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like All-Inclusive Cyprus Holiday Packages (Unsold at Clearance) BestSearches | Search Ads Undo "The new environment that has been created has helped us in moving ahead in the various areas that we are working on," he said. Wang told Doval that "the stable and healthy development of China-India relations is in the fundamental interests of the two countries' people," according to a readout of the meeting released by China's foreign ministry. Live Events The two sides "should enhance mutual trust through dialogues and expand cooperation," Wang said, and should aim for consensus in areas such as border control and demarcation negotiations. Earlier on Tuesday, an Indian source said that China had promised to address three key Indian concerns. Wang, the source said, had assured Indian Foreign Minister Subrahmanyam Jaishankar that Beijing is addressing India's need for fertilisers, rare earths and tunnel boring machines. The Indian foreign and mines ministries did not respond immediately to Reuters requests for comment. China's commerce ministry also did not immediately respond to a request for comment. It was not immediately clear whether China had agreed to approve export licenses faster or grant blanket exemptions for India. China has previously committed to speeding up export licenses for Europe and the U.S. without actually dismantling the control regime. China's exports of rare earths and related magnets jumped in June after these agreements and as the commerce ministry worked through a huge backlog of applications. However, rare earth magnet exports to India were still down 58% compared to January levels, according to Chinese customs data. June is the last month for which country-level data is available. India has the world's fifth-largest rare earth reserves, at 6.9 million metric tons, but has no magnet production and relies on imported magnets, mainly from China.
