Troy University ups tuition costs
As Troy University students return in the fall semester, they will be doing so at a higher price.
This after the Troy Board of Trustees approved Friday to up its tuition costs for the next year, making this the third year of increased tuition in a row.
The increases jump about 12 percent for the next year, going from $193 per undergraduate credit hour to $216 per hour. Including changes in fee structures, it would cost around $420 more per semester for a student taking the minimum courses needed to be considered full time.
That’s a cost of $2,940 compared to this year’s $2,520 per semester.
For graduate courses, the cost increases are close to comparable, going from $220 per credit hour to $246. That’s a difference of around $400 for a student to take nine credit hours, what is considered full-time status in graduate school.
That would mean $2,530 per semester for the coming year, compared to $2,133 this year.
But this was a move Senior Vice Chancellor of Financial Affairs Jim Bookout said was necessary to compensate for revenue losses of 28 percent from the state since 2008.
“Declining state appropriations are just part of the challenge,” Bookout said. “Universities across the country are coping with the negative effects of a stagnant economy by approving increases in tuition and fees. We are committed to good stewardship at Troy University and we have worked hard to keep the tuition increases as low as possible. We will continue to aggressively manage our costs.”
Funding from the Alabama Education Budget hit an all-time high in 2008 with more than $62 million appropriated to Troy University. Since it has seen a decline each year from the state.
Last year’s budget, however, was able to grow financially with around $4.5 million in federal stimulus money.
Despite that same money this year, the funding has dropped 28 percent from the 2008 number.
Also in the proposal was a move to increase the general student fee from $8 to $24 per credit hour.
The student activity fee of $9 per credit hour was eliminated but an additional $100 per semester dining fee was added.
This fee will be required for any student taking nine or more credit hours per semester, an average of three classes, Bookout said.
“We don’t take recommending an increase lightly,” said board member John Harrison.
“It’s with a lot of careful and prayerful consideration.”