The University of MissouriBoard of Curators approved the lowest tuition increase in three years Friday morning.
“We’re all in support of the initiative,” MU Chancellor Brady Deaton said of the 3.5 percent increase. “We’ve had extensive discussion about the challenges on campus because of growth of the number of students and research, and a relative competitiveness for faculty salaries.”
UM System President Elson Floyd proposed the increase in November. The increase is meant to reflect the rate of inflation, a first since 2001. In-state undergraduate students will pay $216.50per credit hour, rather than $209.20. Out-of-state undergrads will pay an extra $18.30 when their tuition rises from $524.10 to $542.40.UM administrators must bridge the gap between state appropriations and educational fees. Deaton said MU would try to offset the lack of additional state funding this year by generating revenue through other means such as obtaining research grants and contracts through the “For All We Call Mizzou” campaign.
The fund-raising campaign strives to raise $600 million from private sources. As of Jan. 31, it had raised close to $525 million.
“We are all going to have to work harder and more efficiently to better utilize our resources if MU is to meet the state’s higher education needs,” Deaton said.
Floyd said he intends to ask the general officers and chancellors to examine their respective administrative structures and programsfor open positions. The executive order will address the possibility of leaving vacant administrative positions which have not received offers.
Angela Vo contributed to this report.