Michigan Tech approved a $7 million budget increase Friday morning that includes an additional $1 million for financial aid for the 2013-2014 school year.
Part of the increased budget is attributed to a hike in tuition. Tech has approved a new tuition system that will allow students to pay a flat fee. Full-time in state undergraduate students will see a tuition increase of 2.9 percent, the lowest increase since 2004.
President Glenn Mroz says the goal of the plateau is to better prepare families for what they will be paying over the course of schooling.
"We wanted to get word out to students and their parents, guardians, sooner than later so that they would understand what tuition is going to be for next year," said Mroz. "So, we figured out ways to trim back costs here."
The 2.9 percent increase keeps Michigan Tech under the tuition caps proposed by the House, Senate, and governor.