Board of Governors Sets Student Fees Within 4.1 Percent CPI
Contact: Jeff Murphy
WARRENSBURG, MO (April 9, 2008) – To meet budget challenges during Fiscal Year 2009, the UCM Board of Governors on April 9 approved a combined average increase in student instructional and general fees of 4.09 percent for Missouri resident undergraduate students. With the new rates, the university ranks seventh in cost for in-state undergraduate students among 13 Missouri public four-year institutions.
Increase is Below Consumer Price Index
President Aaron Podolefsky said the university is pleased to keep the tuition increase below the Consumer Price Index, which is currently 4.1 percent.
“We are also pleased that we remain about average in cost among Missouri public universities, particularly considering the many science and technology programs that UCM is known for,” Podolefsky said. “With four years of college tuition costing about the price of a Chevy Impala, we think a public university education is the best investment in the future a family can make.”
Effective Fall 2008 Semester
New rates are effective for the fall 2008 semester. An in-state undergraduate who takes 30 semester hours over the next fall and spring semesters will pay $6,585, an increase in base tuition and general fees of $360 over the current rate. This figure includes a $3.45 per semester hour general fee for construction of the new Student Recreation and Wellness Center, which was voted on by students.
By semester hour, the new tuition rates for undergraduate students are as follows: $195.30 per credit hour for Missouri residents and $390.60 per credit hour for non residents. Resident graduate tuition is set at $245.80 per credit hour and non-resident graduate rates are $491.60 per credit hour.
General fees are paid by undergraduate and graduate students and provide funds for athletics, facilities, Pertle Springs, student activities, the new Student Recreation and Wellness Center, technology, and the Elliott Union. These fees are increasing from $20.14 to $24.20 per semester credit hour for students enrolled in eight hours or less per semester. Students enrolled in nine or more credit hours pay a flat fee of $363 per semester, a $61 per semester increase over the current rate.
It is projected that combined tuition and general fee increases will result in an additional budgeted revenue of about $4.5 million. The university’s FY09 budget is approximately $130.5 million, not including auxiliaries such as residence hall operations. Projected state appropriations account for approximately $59.6 million in revenue.