DATE: May 5, 2020
SUBJECT: Approval of Proposed 2020-2021 Tuition & Fees
FROM: FINANCE AND ADMINISTRATION
ACTION ITEM: YES
BACKGROUND: The Council on Postsecondary Education approved a flexible tuition and fee structure for FY 2020-2021. In conformance with the HB303 management plan, the University must assess tuition and fees to more closely align with University operations and program activities. The University is recommending a 3.9% tuition increase for the incoming FY 2020-2021 freshmen class only. The Board of Regents approved the Thorobred Promise Tuition Program (TPTP) during the June 7, 2018 Board of Regents meeting and the University will continue to honor this promise for our returning students.
SUMMARY OF PROGRAMS/ACTIVITIES: N/A
ALIGNMENT WITH STRATEGIC GOALS:
Goal 1: Enhance Student Enrollment, Improve Student Life and Engagement, and Improve Student Advising and Career Development.
Goal 3: Increase the University's Financial Strength and Operational Efficiency.
PROGRAM IMPLICATIONS: N/A
FISCAL IMPLICATIONS: The impact per incoming freshmen is $150 per semester or $300 per year. The University expects an increase in net revenues of up to $484,701 for FY2020-2021 assuming traditional face to face instruction with no COVID-19 impacts.
RECOMMENDATION: Approve
ATTACHMENTS: YES