3.1% tuition hike to pay for UNM raises
April 22, 2019 06:23 PM
ALBUQUERQUE, N.M.- UNM regents approved a 3.1% tuition increase on Monday.
The hike will got into effect in the fall.
The money generated by the increase will be used to cover a 3% percent raise for faculty and staff.
"In the very narrowest sense does this hurt the pocketbook of students,” Richard Wood, UNM provost. “It's a little more money next year but it helps preserve a really strong university.”
The board also approved pulling $3.5 million from reserves to help pay for the raises.
Lawmakers approved a 4% raise during the legislative session. UNM said it will need the state to kick in an extra $4.6 million to pay for the raises.
UNM officials sent a letter to lawmakers, asking for the money.
“We think we have a really good case,” Wood said. “We know we have great support across party lines in the legislature.”
Updated: April 22, 2019 06:23 PM
Created: April 22, 2019 05:56 PM
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