| DATE: | June 7, 2018 |
|---|---|
| SUBJ ECT: | Thorobred Promise Tuition Program |
| FROM: | Office of Finance and Administration |
| ACTION ITEM: | Yes |
BACKGROUND: While the University faces numerous funding challenges, it is important to maintain affordability for students and families. Tuition increases can adversely affect retention and progression of financially at-risk students.
The Thorobred Promise Tuition Program (TPTP) will provide predictability in college costs for full-time undergraduate students by holding tuition and mandatory fees constant for four years, based on the student's first year of enrollment.
Transfer and existing students will receive a commitment from the University to hold their tuition and mandatory fees flat for 2 to 4 years, depending on the number of credits they have earned as of July 1, 2018.
SUMMARY OF PROGRAMS/ACTIVITIES: Students will sign a Thorobred Promise Tuition Program agreement (information item attached) that outlines the University’s commitment to hold their tuition and mandatory fees constant for up to four years.
Students that do not finish their degree program within the contracted number of years will pay tuition at current University rates after their agreement expires.
ALIGNMENT WITH STRATEGIC GOALS: Goal 1 – Enhance Student Enrollment, Improve Student Life and Engagement, and Improve Student Advising and Career Development.
Goal 2 – Achieve Academic Excellence Across all Programs and Colleges, Increase Student General Education Skills, Degree Persistence, Career Readiness and Graduation Rates.