MISSOULA — University officials in Montana have approved a $1.6 billion budget, an 8% increase from last year.
The Missoulian reported Thursday that a Montana University System Board of Regents’ committee unanimously approved the all-funds budget Thursday.
School officials say the approval reflects a $1 million budget increase at the University of Montana and about a $15 million budget increase at Montana State University.
Officials say some colleges plan to use the funds to launch a new initiative known as Montana Project 10, intended to boost retention and graduation rates among low-income students by providing financial support and academic momentum.
Officials say average state appropriations per student are about $8,500, the highest amount since 1992 when it was just over $9,000.
Montana State University in Havre has the highest at about $11,600.