Tuition for in-state students will increase by 5 percent next year, and tuition for out-of-state students will go up by 10 percent.
The Board of Regents unanimously approved the increases during the Budget Summit on Thursday.
Undergraduate students will pay $5,102 in tuition and fees for the 2009-10 academic year, $268 more than last year. Nonresident undergraduate students will pay $17,255, $1,547 more than last year.
Maria Probasco, president of the UNM Parent Association, said this is an inopportune economic time for tuition increases.
Families and parents are hurting financially and struggling to keep their students in school, she said.
"In times of prosperity, this University did not increase student fees or tuition," Probasco said. "However, now there is a recommendation on the table to do just that, during this very hard economic time."
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The regents agreed that a tuition increase would not be conducive to student retention or enrollment but that it was necessary to balance the budget.
Regent Mel Eaves said he was pleased with the budget as it was written, except for the tuition increases.
Eaves said the board would like the budget to provide enough resources to preserve UNM's quality of education without financially overburdening students.
Ashley Fate, ASUNM president, told the board that although students want to keep tuition low, they do not want to sacrifice the student services that will help them succeed.
"(Five percent) is fairly reasonable considering all of the initiatives we will be receiving," she said.
The Legislature requires that all state universities raise their tuition to avoid a decrease in state funding. This year, a 2.5 percent increase is required for in-state students along with an 8 percent increase for out-of-state students.
Laura Burr, GPSA representative, said her organization was concerned about the proposed tuition and fee increases, especially when they are higher than the Legislature's tuition credit.
"Understanding that tuition increases are the reality we are working within, we would like to make sure those are as reasonable and manageable as possible," she said.
President David Schmidly said 5 percent is the standard tuition increase at universities across New Mexico, including NMSU.
Last year, the regents increased tuition for in-state undergraduates by 4.85 percent.
The rest of the budget was passed unanimously without changes Thursday. This vote included a $78 increase in student fees.
Regent Jamie Koch said he was content with the budget outcome and was impressed by how quickly it was resolved.
"This is my sixth budget, (and) this is the first time I have felt confident in my vote," he said.
