Full-time, resident undergraduates attending Oakland University can expect to pay 3.17 percent more for 2014-15.
Tuesday, the OU Board of Trustees approved the school’s new tuition rate, bringing the annual cost to $11,460.
The board also approved a 3.2 percent increase for graduate students, raising tuition to $15,294 for full-time resident graduate students.
The increases are part of the $234 million OU budget, which funds new academic degree programs, faculty positions, expansion of library collections and a 10.3 percent increase in need- and merit-based scholarship awards available to qualified students.
Oakland’s new tuition costs are within the cap set by the Legislature to get incentive funding.
Last year, the board approved a 3.75 percent tuition hike for in-state students and kept costs the same for out-of-state students.