An UMAK student pays only mininal tuition and is given an average subsidy of P18,000 each year by the city government.
Makati City Mayor Jejomar Binay said the city has allocated a total of P176,759,000 for UMAK for this coming schoolyear, a large increase from last schoolyear’s allocation of P135,483,441.
Binay said the UMAK registrar’s office has estimated the average enrollment rate of UMAK at 9,800 students. Based on the number of enrolees for schoolyear 2005 to 2006, Makati residents constitute 83 percent of the university’s total student population, while the remaining 17 percent is made up of non-Makati residents.
The UMAK collects only a token tuition of P1,000 per semester from city residents and P3,000 from non-residents.
UMAK accounting chief Aurora Serrano said the total fee collection is equivalent to only 13 percent of the total budget allocated by the city government for UMAK.
"For every P100 spent for UMAK, only P13 is shouldered by the students, while the remaining P87 is subsidized by the city government," Serrano said. "This is why we appeal to our students to study hard – because Makati (City) is pursuing all possible means to give them practically free but quality education." – Rhodina Villanueva