MINNEAPOLIS - The regents of the University of Minnesota have approved a budget that would freeze wages, cut millions in costs and raises tuition for most resident undergraduates by 5 percent.
The budget includes an expected cut of about $71 million in state aid to $520.3 million next year.
The university plans to cover about two-thirds of the shortfall through budget cuts. Those cuts include layoffs, wage and salary freezes and passing more health care costs along to employees.
The budget would also raise nearly $45 million more in tuition and fees than last year.
The tuition increase may feel steeper to some students because federal stimulus money the university used for scholarships for the past two years has run out.
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