A plan to raise university tuition rates rise by at least 5% for undergraduate college students this autumn was authorised by the Kansas Board of Regents (KBOR). In a meeting on Wednesday, the majority of the board members supported the hike. In an interview with Kansas Capitol Bureau, KBOR Chair Jon Rolph stated that inflation is “primarily driven” by the hike. Universities, according to Rolph, are “feeling the pinch.”
“We’ve tried to tackle this from a lot of different angles… and the state is investing more in scholarships and availability,” Rolph said. “So, this is just one area where we’re trying to tackle the issues of internal inflation that we’re facing to try and keep it as affordable as possible for college students.”
Both in-state and out-of-state tuition rates rise are affected by the modifications
On the list of institutions receiving a 5% raise are universities like Kansas State University and the University of Kansas. Wichita State University, which will see a 5.9% increase, is one among the outliers. The tuition at Fort Hays State University will increase by 7%. Tuition and fees at the University of Memphis will increase beginning with the fall term.
In-state undergraduate tuition and required fees will increase by up to 2.86% for the 2023–24 academic year, the Board of Trustees voted at its meeting on Wednesday. In-state undergraduate costs will increase by an estimated $114 as a result of the increase, with tuition rates rise by $84 and obligatory fees increasing by $60. One of the reasons for the increase, according to the board, was inflation.
In the meanwhile, they will reduce spending by 3% of the budget. It is anticipated that the enhanced tuition and fees will bring in an extra $2,387,000 for the 2023–24 academic year. The University of Michigan claims that during the past eight years, the school has had the lowest statewide average tuition rates rise by 1.5%.
Depending on where college students enrol, the adjustments will result in an increase in tuition of a few hundred dollars. Last year, universities maintained the same tuition costs. If improvements are not made, some schools may have their budgets cut this year. Leaders at the university claim they are working to “break even.”
According to Rolph, the modifications will guarantee that colleges can continue offering college students the services they really need. Rolph stated, “We want to ensure that we’re attracting the best faculty, that we’re compensating our workers fairly, and that we’re providing an excellent experience.
