2008 Woodie Awards
Tuition costs increase 5.1%
Semester tab climbs to nearly $3,000 for 15-credit load
Muleskinner Staff
Issue date: 4/26/06 Section: News
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The Board of Governors (BOG) approved a 5.1 percent increase in student fees, beginning fall semester 2006.
When combined with a projected 2 percent state appropriations increase, this results in an overall 3.58 percent rise in the University's operating budget - an increase below the Consumer Price Index rate of inflation.
"Keeping budget increases below inflation demonstrates that the university is an excellent steward of state resources and student fees," President Aaron Podolefsky said. "Through prudent budget management, we have maintained and enhanced our quality academic programs and are proud to remain as one of The Princeton Review's 'Best Midwestern Colleges.' "
The new student-fee rate is said to help the University meet mandatory increases amidst significant reductions in state support over the past five years.
The cost for Missouri undergraduate students attending this fall will rise $9.50 per credit hour - from $185 to $194.50 per credit hour.
The total cost includes $180.50 for instructional fees and a $14 per-credit-hour general fee to support facilities, Pertle Springs recreation area, Elliott Union, student activities and technology.
Including the general fee, the per-credit-hour cost for in-state graduate students will be $241.
"We are committed to providing a quality education for our students at a time when state support for higher education lags behind what it was six years ago," Podolefsky said.
"Although we have increased tuition out of necessity to help cope with this loss of revenue, we believe that, when weighed against the benefits of an education at CMSU, students are getting a good value for their tuition dollars."
Podolefsky said a comparison of state and student revenue support in fiscal year 2001 showed state appropriations accounted for 64 percent of the University's state and student-fee revenue total, while student fees accounted for 36 percent.
State support decreased to 49 percent this fiscal year, while student fees accounted for 51 percent of this revenue total.
When combined with a projected 2 percent state appropriations increase, this results in an overall 3.58 percent rise in the University's operating budget - an increase below the Consumer Price Index rate of inflation.
"Keeping budget increases below inflation demonstrates that the university is an excellent steward of state resources and student fees," President Aaron Podolefsky said. "Through prudent budget management, we have maintained and enhanced our quality academic programs and are proud to remain as one of The Princeton Review's 'Best Midwestern Colleges.' "
The new student-fee rate is said to help the University meet mandatory increases amidst significant reductions in state support over the past five years.
The cost for Missouri undergraduate students attending this fall will rise $9.50 per credit hour - from $185 to $194.50 per credit hour.
The total cost includes $180.50 for instructional fees and a $14 per-credit-hour general fee to support facilities, Pertle Springs recreation area, Elliott Union, student activities and technology.
Including the general fee, the per-credit-hour cost for in-state graduate students will be $241.
"We are committed to providing a quality education for our students at a time when state support for higher education lags behind what it was six years ago," Podolefsky said.
"Although we have increased tuition out of necessity to help cope with this loss of revenue, we believe that, when weighed against the benefits of an education at CMSU, students are getting a good value for their tuition dollars."
Podolefsky said a comparison of state and student revenue support in fiscal year 2001 showed state appropriations accounted for 64 percent of the University's state and student-fee revenue total, while student fees accounted for 36 percent.
State support decreased to 49 percent this fiscal year, while student fees accounted for 51 percent of this revenue total.
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