Board of Curators Vote on Tuition Rate
COLUMBIA - The University of Missouri Board of Curators voted on Monday to hold tuition increases for in-state, undergraduate students to the rate of inflation, which is 3 percent. The board said this decision will benefit Missouri families and students by continuing to make higher education in the state affordable and accessible. This increase is smaller than the increase previously expected.
"We realize the significant economic pressures many Missouri families face and the financial hardship significant increase in public higher education costs can bring," said UM Board of Curators Chair David Bradley.
"At the same time, the UM system faces rising operating costs just like businesses. The board's decision to hold tuition increases at all four campuses to the rate of inflation is a result of increased operating efficiencies, the governor's reduction of the proposed cut in state appropriations and our commitment to ensure that a college education is attainable and affordable to all Missourians."University of Missouri System administrators heeded Gov. Jay Nixon's warning and capped in-state tuition increases at the inflation level today.
"I commend the University of Missouri's Board of Curators and President Tim Wolfe for deciding to hold tuition increases for next year to a significantly smaller amount," Nixon said.
Students will now pay $7.80 more per credit hour. Out-of-state students did not fair as well from the decision. Those students will see the originally projected 7.5 percent increase.
From 2007 to 2012, annual tuition increases average 2.7 percent. This number is below the average of 6.2 percent tuition percent seen by surrounding states.
The associated press reported that the reduced revenue will mean the likely elimination of between 200 and 245 full-time jobs that are either vacant or currently filled.