Campus Fee Survey
A campus survey performed in 2013 showed that of the students surveyed, 67% stated that they would support a fee of $130 per semester. Enacting a student fee to support the Recreational Sports and Union renovations was also supported by LSA Student Government, 15 school and college governments, as well as MUBR, ACRS, and RHA.
The Board of Regents approved a $65 student fee per semester with a shared approach to the funding model. The student fee generates $5.7M annually with $1.2M (22%) earmarked for financial aid support. The student fee covers approximately 54% of the funding with the other 46% from other University sources, such as Athletics, Parking, University Unions, and Student Life Reserves.
Project Funding Sources
The total approved budget of the 6 projects (Mitchell Fields, IMSB, CCRB, NCRB, Michigan Union, and Pierpont Commons) is $173M. Just as these resources are enjoyed and shared by multiple members of the campus community, the funding is also shared as well. Athletics, Parking and Transportation Services, University Unions, and Student Life have all contributed in addition to the revenue from the student fee.
Student Life: 5%
Parking and Transportation Services: 10%
Investment Income: 14%
Student fee generates $5.7M annually, of which $1.2M is required for financial aid.
Project Cost Distribution
The total amount of the project is $174M. The cost distribution is as follows:
$67M- Union Projects
$62M- Recreation Projects
$20M- Financial Aid
$14.4M- Professional Fees
$3.1M- U-M AEC Fees