EAST LANSING, Mich. — Michigan State University is raising room and board rates for first year students, and officials say inflation is a big part of the reason.
On Friday, Michigan State University's Board of Trustees approved a 2.9 percent increase in housing and dining rates.
This coming fall first-year students who select the silver unlimited plan will pay $10,990 for room and board. The cost will stay at $10,676 for second-year students.
"We’ve seen unprecedented inflation and most of us who go to the grocery store see it," said Senior Vice President for Student Life & Engagement Vennie Gore. "We’ve had some of our cost go up as much as 35 percent in the last year."
Data shows inflation climbed to 8.5 percent in March. The Department of Labor said the 12-month jump in inflation is the biggest increase since December 1981.
"One of the things we do for our economically disadvantaged students is, when in terms of financial aid, when there is an elevation in the cost of room and board, we make an adjustment in financial aid that's provided for students," said President Stanley.
He said they've looked carefully at balancing inflationary pressures with the desire to keep things affordable.
"What we’ve done is really create a compromise that I think hopefully works for everyone involved," Stanley said.
Trustee Melanie Foster was the only member of the board to vote against the increase.
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