ROCHESTER (AP) – Officials at a southeast Michigan university have approved a nearly 4 percent tuition increase for undergraduate and graduate students.

Oakland University’s Board of Trustees raised tuition by 3.95 percent for undergraduate students and 3.93 percent for graduate students when it approved a $263.5 million budget for the Rochester school’s 2016-2017 academic year on Monday.

The tuition increases mean undergraduate students will pay about $11,970 annually and graduate students will pay about $16,300 annually. They come a year after trustees approved a nearly 8.5 percent increase, more than twice the state’s cap on tuition increases, which cost the university $1.2 million in state aid but generated $12 million in revenue.

The new hikes are expected to generate an additional $10.4 million in revenue for Oakland University.

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