ANN ARBOR (WWJ) - University of Michigan students will be paying more for room and board next year. The Board of Regents, Thursday,  voted to increase rates by a total of about $140 bring the cost per student for a double room with a standard meal plan to $9,468 per-year.

The university says the additional money will be used to maintain facilities and services as well as pay for major renovations of campus housing facilities.

"The goal is to keep room and board rates as low as possible while maintaining a quality experience for resident students," said Linda Newman, director of University Housing.

"Achieving that goal from year to year compels us to manage operating costs efficiently and to invest strategically in the delivery of core programs and facility improvements that support the academic, social and personal needs of our students," she said.

University Housing is a self-funded auxiliary unit of the university. Since fiscal year 2006, U-M officials say University Housing has achieved $9.6 million in cost reductions that have helped minimize increases in room and board rates over the years.