The Thorobred Promise Tuition Program creates incentives for students to graduate in four years, provides financial certainty to students and families, and will increase persistence and progression.

The TPTP assists advisors in stressing the importance of fifteen to finish and the importance of following a pathway to graduation for all students.

The TPTP along with the redesigned financial aid program and the low cost book program, position the University well for recruiting and marketing.

FISCAL IMPLICATIONS: With proposed tuition rates that are the same for the 2018-19 and 2019-2020 academic years, there is no negative impact from the TPTP until the 2020-2021 academic year. At that time, tuition increases will result in a lower increase in revenue due to those increases affected a smaller number of students. After four years, this impact is minimized as at that point, the revenue base grows equally each year.

There will be additional administrative costs in managing this program beginning in the second year. At least one additional staff position is anticipated.

ATTACHMENTS: Thorobred Promise Agreement FAQ and Four Year Tuition Rate Guarantee Agreement

RECOMMENDATION: Approve the Thorobred Promise Tuition Program.