ACTION ITEM:

Approval of FY 2022-2023 Tuition & Fees and Rescind Thorobred Promise Tuition Program.

FACTS:

Vice President/CFO Dr. Shields submitted FY 2022-2023 Tuition & Fees. Kentucky State University now seeks the approval from the Board of Regents.

The Thorobred Promise Tuition Program, which began in the 2018-2019 academic year, was designed to boost graduation rates and cut down on the number of loans students acquire. It guaranteed flat-tuition rate for four years for new first-year undergraduate students. This program has not been utilized.

BUDGETARY IMPLICATIONS:

The campus recommends a two percent (2%) total increase that includes realigned and increased meal plans and housing. This amount is in line with sister institutions within the Commonwealth of Kentucky.

ALIGNMENT WITH STRATEGIC GOALS:

FY 2022-2023 Tuition & Fees will assist in reaching the University's Strategic Goals 1 & 3:

Rescinding the TPTP program will assist in reaching Operational Efficiency in Goal 3.

  1. Enhance Student Enrollment, Improve Student Life and Engagement, and Improve Student Advising and Career Development.
  2. Increase the University's Financial Strength and Operational Efficiency

RECOMMENDATION:

VP/CFO Shields recommends that the Board of Regents approve FY 2022-2023 Tuition & Fees and Rescind Thorobred Promise Tuition Program.

MOTION:

Approve FY 2022-2023 Tuition & Fees and Rescind Thorobred Promise Tuition Program.

Finance and Administration