University of Nebraska Students will see tuition increases of two-and-three-quarters percent in each of the next two years if the Board of Regents approves President Hank Bounds budget proposal next week. Bounds says the higher tuition revenue will be needed, along with the 3% increase granted by the legislature, to meet increasing operating costs.
“We anticipate this next year that we’ll have about $21 Million in new costs” Bounds told reporters.
The 3% State budget increase amounts to just over $17 million. The 2.75% tuition increase, about $5 – $7 per credit hour, will provide the additional $4 Million.
“That will allow us to meet increases in things like salaries, benefits, health insurance, utilities, and general inflation that affect our budget” Bounds said.
Salary increases for faculty and staff will average 2%, and general operating expense increases will average 2.2% according to the projections to be provided to the Regents.
The outgoing N-U President thanked Governor Pete Ricketts and the Legislature for the increased appropriation, which comes after two years of heavy budget cutting.
“Given the financial stress that this state has faced over the past several years” he said, “I think we’re in a good place.”
Even if the Regents approve the increases as requested, The University of Nebraska-Lincoln will still charge the lowest tuition in The Big 10. UNL students pay an average of $9,242 per year for tuition and fees. Penn State is the highest with an average $18,454. Michigan, Illinois, Rutgers, Minnesota and Michigan State are all over $14,000 per year.
RELATED READING: Nebraska Lawmakers Approve New $9.3 Billion, Two-Year Budget