University of Michigan regents

The next president of the University of Michigan may be announced later this morning. The Board of Regents has scheduled a special meeting at 10 a. m. to vote on the U of M's next president.

Current U of M President Mary Sue Coleman announced last year her plans to retire in July.

Coleman has led the university for 12 years.

The next president will be the 14th president at the University of Michigan.

Sarah Kerson / Michigan Radio

This year marks the lowest tuition rate increase for University of Michigan undergraduate students in nearly 30 years.

The 1.1% increase, or $148 per year for the average undergrad, puts U of M's in-state tuition at $13,142 per year. Out-of-state students will have to foot a slightly bigger bill. U of M regents approved a 3.2% for those students, which is an additional $1,270 per year, on average.

The university also marked another financial success for the upcoming term.