OU Board of Regents to vote on 5-percent tuition hike, fee increase
A tuition increase predicted in March may soon become a reality, which would cost in-state students more than $150 and out-of-state students more than $400.
The OU Board of Regents is set to decide on a tuition increase — as well as multiple mandatory fee increases — during its June retreat in Ardmore, according to the regents' agenda.
The regents will decide Wednesday on mandatory fee increases totaling $5.65 and a 5-percent tuition increase. The combined tuition and fees increase will cost resident undergraduate students about $170 more each semester while non-resident, undergraduate students will pay about $431 more each semester. This is the second increase since tuition went up 5.1 percent before the last academic year.
The tuition increase is in part a response to a decrease in funds distributed by the state government to higher education. While OU has seen steady increases in state funds during the last decade, the previous two years have been decreases, according to Daily archives. The university received about $15 million less from state funds this year compared to fiscal year 2011.
The tuition increase has been expected since early March when OU told Fitch Ratings — one of the biggest credit-rating companies in the world — a tuition increase would be a way to pay back debts after the credit company evaluated OU's bond rating, according to Daily archives.
The tuition increase isn't the only method the university has used to deal with state funding decreases. President David Boren asked for 5-percent budget cuts universitywide and a partial hiring freeze that is still in effect, according to the agenda.
The regents meeting will begin Monday, but decisions regarding OU will be made Wednesday, according to the agenda.
The meeting will be at the Noble Conference Center and Pavilion in Ardmore, university spokesman Chris Shilling said. The agenda, and any other information presented to the board, will be available at the meeting.
For anyone not able to attend the meeting, the final agenda will be posted to the regents’ website within 24 hours after the meeting, in accordance with Oklahoma statutes.
OU employees, faculty, students and the public are encouraged to attend the regents meeting Wednesday, Shilling said.
The full schedule and agenda for the meeting is available here.
Other topics to be discussed on the June Agenda:
• The 2012 fiscal year budget
• Faculty and staff raises
• Housing and food service rates
• Renovations and reconstructions
• Periodicals and subscriptions
• Benefit plans
Carmen Forman contributed to this report.