Finances

The University will operate with a balanced budget for the current fiscal year 2006-07. The general fund budget is $120.8 million, and the state appropriation is approximately $49 million.

General Fund Fiscal Year 2007 Budget
Revenue  
Tuition and Fees
$64,910,000
State Appropriations
49,041,000
Indirect Cost Recoveries
6,386,000
Miscellaneous Revenue
499,000
Total Revenue
$120,836,000
Expense
Salaries, Wages, and Fringes
$77,552,000
Supplies and Equipment
16,677,000
Fellowships/Scholarships
14,495,000
Utilities
4,748,000
Total Expense
$113,472,000

University revenue (2005 info, new numbers to come)
In 2005, University revenue totaled $187 million. More than $19 million came in the form of donor and capital projects revenue, allowing the completion of . . .

University revenues
Percentage
Tuition and Fees
30
State Appropriation
27
Grants and Contracts
17
Auxiliary Activities
12
Gifts and Capital Appropriations
10
Miscellaneous Revenue
  4

Michigan Tech Fund support (also 2005 info)
Michigan Tech alumni, friends, and corporate partners continue to provide crucial support. During 2004-05, the Michigan Tech Fund attracted almost $12.8 million in gifts, with $2.9 million sponsoring student scholarships. Gifts supported academic departments, special student programs, scholarships and fellowships, and numerous other University initiatives to help Michigan Tech maintain its time-honored reputation for quality education.

Sources of gifts received
Alumni
$8,310,558
Corporations
$2,522,605
Friends
$1,659,112
Other
$157,343
Foundations
$109,610

Michigan Tech graduates have some of the lowest debt in the nation
The average student attending Michigan Technological University graduates with one of the lowest amounts of debt in the nation, according to U.S. News & World Report's Best Colleges 2007. Of the 248 schools considered national universities by U.S. News, Michigan Tech was the only university in Michigan to make the "Least Debt" category, ranking seventeenth. A total of 47 percent of Michigan Tech graduates have no debt upon graduation, and the average debt is $13,587.