Finance Committee Approves Tuition/Fee Increases
The Finance Committee of the Board of Regents for Higher Education approved an increase in tuition and fees for the system’s nearly 100,000 students.
The Finance Committee of the Board of Regents for Higher Education, which governs four state universities, 12 community colleges and Charter Oak State College, today approved an increase in tuition and fees for the system’s nearly 100,000 students. The Finance Committee had requested additional financial, enrollment and other information, including risk factors that the system may face over the next year, during its February 19 meeting prior to voting on a tuition and fee package for FY 2014 (state universities and community colleges) and AY 2014 (Charter Oak State College).
The tuition and fee package approved today by the Finance Committee awaits final approval by the full Board of Regents, which meets next on March 21. The tuition and fee increases for FY 2014 at the community colleges and state universities include:
| In-State Commuter | In-State Residential | Out-of-State Residential | |
|---|---|---|---|
| Connecticut State Universities (Undergraduate) | 5.1% or $434 (total of $8,990/AY) | 4.1% or $778 (total of $19,897/AY) | 4.1% or $1,251 (total of $31,402/AY) |
| Connecticut Community Colleges | 5.25% or $188 (full-time) including fees (total of $3,786/AY) 5.25% or $8 per Extension credit plus fees (part-time) |
n/a | n/a |
In-state tuition at Charter Oak State College for AY 2014 increased by $13/credit, to $258/credit. The in-state College Fee increased $9/semester to $180/semester.
As part of the revised recommendation from board management that the Finance Committee approved today, the in-state and out-of-state University Fee at the Connecticut State Universities would not be leveled. Under the approved proposal, in-state university students would pay $1,030 for the University Fee, and out-of-state university students would pay $2,451.
“We are mindful that any increase in tuition and fees – regardless of the amount – is difficult for our students to absorb in these fiscal times,” said Finance Committee Chairman Gary Holloway. “When we originally began discussing the environment in which we would consider a tuition and fee increase, I was concerned we would be forced to consider a double-digit increase. Thankfully, that is not the situation in which we find ourselves. However, we must continue to be innovative in the way in which we provide services to our students, and consider any and all opportunities for cost savings going forward.”
Under a policy adopted by the former Board of Governors for Higher Education, institutions must set aside 15% of tuition dollars for institutional financial aid purposes. When the tuition increases, so, too, does the amount of financial aid available to students. The state universities remain a relatively good bargain for students in relation to comparable institutions in New England and the Northeast. The Connecticut State Universities ranked in the bottom third among the six New England states, New York and New Jersey in tuition and fees through FY 2013. The Connecticut Community Colleges tuition and fee levels rank among the bottom third among comparable institutions in the northeast and among the lowest within New England states. In FY 2012, the community colleges ranked second only to Maine in having the lowest total tuition and fees for two year institutions in New England.