Board approves budget, tuition rates for FY '23
TRAVERSE CITY — A balanced budget and tuition rates and fees for the 2022–23 academic year were approved unanimously by the Northwestern Michigan College Board of Trustees Monday.
Tuition rates will increase by 5 percent. That amounts to $6 per contact hour for in-district students (Grand Traverse County residents.) Fees will rise $1.50 per contact hour. For the average in-district student taking 24 contact hours in a two-semester academic year, that means an increase of $180 ($144 in tuition, $36 in fees.) A table of tuition rates for all residencies and programs is available here.
The college held tuition flat in 2020. In 2021, a tuition increase was mostly offset by a fee decrease. This year, as state support again declined as a percent of the budget and growth in property tax revenue is capped, tuition remains one of the few levers the college controls.
Inflation, currently at 8 percent nationally, and NMC’s ambitious strategic plan also informed this year’s budget. The plan, NMC Next, includes two dozen objectives in five areas including student engagement and success and future focused education.
“It’s time to bring our strategic plan to life,” said NMC President Nick Nissley. “Each of the initiatives seek to add value for our students and should lead to growth opportunities for the college.”
Not all Michigan community colleges have set fiscal 2023 tuition rates. In FY 2022, NMC’s tuition was the sixth lowest in the state. Thanks to community donors the college also awards more than $1 million in institutional scholarships annually. Adults over 25 who don’t already have a degree are eligible for a state scholarship, Michigan Reconnect, which pays 100 percent of in-district tuition.
“With Michigan Reconnect and more scholarship money available through the NMC Foundation, I hope more people take the opportunity to get ahead with NMC,” Nissley said.
For 2022–23, NMC’s revenue will be 23 percent from state aid, 27 percent from local property tax, 47 percent from tuition and fees and 3 percent from other sources.
Release date: June 27, 2022
For more information:
Diana Fairbanks
Associate Vice President of Public Relations, Marketing and Communications
dfairbanks@nmc.edu
(231) 995-1019