The Tennessee Board of Regents has approved a recommendation to increase tuition and fees at its institutions this year.
Among other actions, the Board approved the Finance and Business Operations Committee's recommendations to increase hourly maintenance fees 5.8 percent for community colleges across the state, 8.5 percent for Colleges of Applied Technology and ranging from 0 to 6.9 percent at TBR universities.
The Board oversees six state universities, 13 community colleges and 27 colleges of applied technology.
The proposed hikes are mostly a result of state revenue shortfalls that prevented the state legislature from appropriating new funds. TBR Chancellor John Morgan says that as a result of the shortfalls, fee increase recommendations were higher than planned.
"Had the state been in a position to fund the improved outcomes, the recommended rate increases you see here would have ended up at roughly half of what they are," said Chancellor. "We have continued to talk about the need for us as a state to really have an opportunity to strategically look at how we're going to finance the higher education aspirations.
“There are basically four ways to finance the activity that we undertake: tuition that we ask students to pay, state appropriations, private fundraising, and efficiency –finding ways to do the business we do in a more productive fashion. What the right mix of those resources are needs to be carefully considered. What is realistic in terms of looking forward to a tuition policy not just on an ad hoc basis, but looking toward the future horizon several years out when in terms of financial planning for doing what the state needs us to deliver?”
A list of increases for 2014-2015 and the new price students will pay:
Yesterday, the University of Tennessee Board of Trustees moved to increase its tuition 6 percent ahead of the TBR's vote today. Approval came during the UT Board's annual meeting in Knoxville.
Instate tuition and mandatory fees will now cost undergraduate students an additional $225 per semester for a total of $8,024 for a full academic year with full-time undergraduate enrollment at a minimum of 12 hours.
Instate tuition and mandatory fees for instate graduate students will increase $292 per semester for a total of $4,654 per semester. Graduate students will pay a total of $9,308 per academic year starting this fall. Full-time graduate enrollment is nine hours per semester.