The Oakland University Board of Trustees passed a 2.96 percent undergraduate tuition increase Monday afternoon.

Since Oakland has a no additional fee policy, a total of 81 percent of its funding comes from student tuition.

State funding has given OU $43.1 million, which is the base funding and is not expected to be changed in the near future. Performance funding included an additional $888,300 based on degrees in critical skill areas, graduation, over all degrees and other factors.

Oakland’s tuition rate is the fifth lowest in the state under the new general fund budget.

According to data from the State of Michigan, OU is the fourth lowest cost-per-student in the state, the second highest student-per-faculty in the state, the fourth lowest staff-per-thousand student in the state and the lowest general fund for square-per-student in the state.

The increase, set for the 2012-13 school year, is the lowest tuition increase since a 1 percent increase in 2004.

A 2.94 percent increase was also approved for graduate student tuition.

Keeping the rate below four percent makes OU eligible for additional funding from the state of Michigan based on tuition restraint.

BOT Chairperson Henry Baskin said tuition increases at Oakland need to stop.

“We need to make a commitment that this will be the last year we ask for a tuition increase. As far as Oakland’s concerned, for the last 15 years, raising tuition is the new norm,” he said. “This has to stop at some point.”

Oakland’s tuition increase is one of the lowest tuition increases among the 15 public Michigan universities and is less than the 4 percent increase limit set by Gov. Rick Snyder.