KY Council on Postsecondary Education Approves 3% Tuition Cap
Kentucky's Council on Postsecondary Education approved a 3% ceiling for tuition increases for the 2013-14 academic year for in-state undergraduate students at Kentucky’s public colleges and universities. It is the smallest average tuition increase for Kentucky public institutions in 15 years. Last year the Council allowed up to a 5% increase.
Murray State opted for a 4% increase last year. MSU President Randy Dunn says the cap will constrain his ability to meet fixed costs and provide competitive salaries to faculty and staff. Dunn says budget planning thus far had assumed a 4% increase for the 2014 fiscal year. "We’ll be working hard in the coming days, then, to revise our budget draft to accommodate this cap. With our tuition and fees already being the lowest in Kentucky, this artificial ceiling hampers MSU even more in maintaining the high quality education we have become known for among regional state universities nationwide," Dunn said.
CPE President Bob King said the additional tuition and fee revenue will address only about half of the estimated $61 million increase in fixed costs next year, resulting in an estimated budget shortfall of $29 million. The Council will vote on complete campus tuition proposals at its June 20 meeting.