A new reciprocity agreement between Minnesota and Wisconsin was finalized at the University of Minnesota Board of Regents meeting Friday.

Under the new agreement, a portion of the funds Wisconsin residents pay to attend University of Minnesota System schools will now go directly to the University of Minnesota System, rather than the state.

The new agreement was approved unanimously by the U of M Regents, said U of M Student Regent Jim Irrgang.

U of M News Service Director Daniel Wolter said the reciprocity agreement was meant to expand "higher education opportunities for thousands of students."

"The Board of Regents' action is another step towards adopting the revised agreement, which creates a more equitable arrangement and preserves the basic purpose of reciprocity — expanded affordable higher education for Minnesota and Wisconsin students," Wolter said.

Wolter added the U of M "is grateful an equitable revision to this agreement has been attained."

University of Wisconsin System spokesperson David Giroux said the finalization of the agreement is "positive news for Wisconsin families."

"We said all along reciprocity is a really important tool for Wisconsin families," Giroux said. "It provides not only access, but choice and affordability."

Giroux added the agreement between Minnesota and Wisconsin is unique and "something we should treasure."

"Not every state in the nation has this kind of reciprocal agreement, and it really is quite special and worth preserving," Giroux said.

In the previous reciprocity agreement, Wisconsin residents were paying less to attend Minnesota universities when compared to Minnesota residents, due to Wisconsin's lower in-state tuition.

Wisconsin would then compensate Minnesota for the difference, but money was going to the state rather than to Minnesota universities.

Reciprocity discussions between the neighboring states began last summer and were decided upon in August. The last step in finalizing the decision was approval from the U of M Board of Regents.

The agreement was originally to be voted on at the Sept. 7 U of M Board of Regents meeting, but the meeting was abruptly canceled before the vote could take place due people protesting the university’s unwillingness to match certain employees’ salary to inflation.