The UNM Board of Regents has approved a tuition increase ranging between 5 percent and 6.97 percent. The final amount will be decided at a later meeting. The New Mexico Legislature appropriated money for a 2 percent increase for staff and faculty. In the budget presented to the regents, an additional 1 percent increase for faculty members was added as part of the proposed tuition increase.
UNM President David Schmidly recommended the higher amount in order to increase the number and salary stipends for graduate and teaching assistantships, and for a number of other specific items including keeping one of the university libraries open 24 hours a day. The expanded library hours have been a priority for students during budget discussions.
Regents are interested in using some university reserves as part of the budget process, so the administration will conduct a careful review of the reserves and restrictions on their use, and will report back to the regents before their final vote.