The Board of Regents at Eastern Michigan University (EMU) approved a 7.8 percent tuition increase for the next academic year.

According to the Detroit Free Press, the vote was unanimous and the tuition hike is more than double what the state has set as a tuition increase cap, which is 3.2 percent. In-state students will now pay $10,417 for one full year at EMU, nearly $1,000 more than last year.

"This budget underscores our commitment to academic programs that support student success," EMU President Susan Martin said in a press release. "Eastern's academic programs meet the needs of students in today's economy, which results in employment for our graduating students. As a result, Eastern is attracting more students who are better prepared academically. More and more incoming freshmen are recognizing the value of an Eastern Michigan degree."

MLive.com noted that EMU's decision to go beyond the state's tuition increase cap will result in the loss of $1 million of state-provided aid. However, the significant increase is expected to generate $10 million in revenue.

EMU said in its release that about half the additional revenue will go to financial aid and half would go to general expenses to improve the school and its campus. EMU broke four straight years of tuition increases last year by keeping it the same. The previous four increases were 3.2 percent, 3.75 percent, 3.95 percent and 3.65 percent, the Press reported.

"That's a huge jump," Mary Simmons, a 21-year-old student at EMU, told the newspaper. "I'm going to have to figure out how I'm going to get that money. I'll probably have to take out more loans."