Provost Martha Pollack announced the position last month, promising to hire someone to help recruit qualified minority students to the university. The board authorized the position at their monthly meeting in Ann Arbor.
University President Mary Sue Coleman said earlier this week that the position would strengthen the connection between financial aid and admissions, so that minority students are more likely to select Michigan over other schools that accept them.
"What we would like to do is find a closer alliance between admissions and financial aid," Coleman told The Michigan Daily, the student newspaper on campus. "One of the things that we think is very, very important is that those positions work closely together because one of the things that may have an impact on students accepting us is how quickly they find out about financial aid or how we package the financial aid."
In other moves Thursday, the board approved a $261 million facility for the biological sciences. It brings together the departments of molecular, cellular and developmental biology, ecology and evolutionary biology. And it approved a $135 million expansion of the Stephen Ross School of Business.
The board also created an endowed position for football coach Brady Hoke. A $10 million donation funds the J. Ira and Nicki Harris Family Head Football Coach.
"This gift was a way to honor and pay tribute to the history and tradition of Michigan Football and the joy it has given my family throughout the years," J. Ira Harris said in a statement.