Students at the University of Memphis can expect less bang for their buck this fall under a plan passed unanimously Tuesday by a Tennessee Board of Regents committee.
Though not final until full board approval June 25, the hikes will raise tuition costs locally between 5 and 9.3 percent for the 2010-2011 academic year, on top of the $29 per semester fee increase already in place at The U of M.
In-state undergraduates taking 12 hours will see a 5 percent increase, paying an additional $161 per semester, $3,390 total, not including on-campus residence fees. Students taking 15 hours will pay $233 more, 7.1 percent, for $3,495.
Undergrads taking 18 hours will pay the most. A 9.3 percent increase will equal $305, or $3,600 total.
The plan includes a second fee increase for the 2011-12 school year at the same levels.
Memphis students will receive the lowest percentage increase, but will ultimately pay more than any other TBR university or community college.
Designed by the TBR's Business and Finance Committee, the fee plan was proposed to make up for 80 percent of state tax money appropriated from higher education funding over the past three years.
At The U of M, state funding has been reduced nearly 27 percent, or more than $33 million, over the past three years.
David Zettergren, vice president for business and finance, and University President Shirley Raines released a statement yesterday reiterating The University's past measures to minimize the effect of dwindling state dollars, including a voluntary faculty buyout during the first year and campus-wide budget reductions.
"We have tried to balance cost-cutting and TBR's tuition increases, keeping the timely graduation of our students as our primary goal," Raines said. "At the same time, we are trying to maintain our current jobs, doing our part in the Memphis, Midsouth and state economy."
She asked for the monetary support of friends, alumni and the community to help offset funding cuts, noting that faculty members have received no pay raises in the last three years.
U of M director of budgeting Sharon Hayes offered little hope for students. She said her office is still reviewing the committee's recommendations but that hopefully The University would be able to offer some type of supplementary support.
"But at this point, we have no idea what that might mean."
