UNM Board of Regents voted to approve a 3.1% increase in tuition today. Gov. Michelle Lujan Grisham would like all employees to get a 4% salary increase this year, which UNM did agree upon.The University thought it had $20 million to pay for the salary increase, however they are only able to come up with $10 Million, and will need to come up with an additional $10 million. The solution? Increase tuition.
"The regents approved a 3% salary increase for faculty and staff by raising the tuition 3.1%, dipping into the reserves about $3.5 million.
The 3% salary increase for faculty and staff will be effective by July 1. The 3.1% tuition increase will take effect this fall.
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