Regents Approve Tuition Increase For OSU
Friday, June 22nd 2007, 2:55 pm
By: News On 6
TULSA, Okla. (AP) _ The Oklahoma A&M Board of Regents approved Friday a nearly 10 percent increase in tuition and mandatory fees for students at Oklahoma State University's Stillwater and Tulsa campuses.
The 9.9 percent increase takes effect for the 2007-2008 school year and is the most significant tuition and fee hike for students attending the university's main campus since 2003-04, when rates increased about 25 percent.
University officials cited rising costs, competitive pressures and fewer dollars allocated by the Legislature for the increases.
Last year, OSU increased tuition and fees by 6.8 percent, following a 7.2 percent increase before the 2005-06 school year. Prior to the 2004-05 school year, OSU's Stillwater tuition and fees rose by 8.6 percent.
During the previous school year, in-state students paid $4,996.80 in tuition and mandatory fees for 30 credit hours, while out-of-state students paid $13,569.30. The new rates for the coming school year are $5,491.20 and $14,915.70, an increase of 9.89 percent and 9.92 percent, respectively.
In-state students will pay about $16 more per credit hor as a result.
``Even with this increase, OSU remains one of the best college values in America as determined by Princeton Review and the most affordable university in the Big 12 Conference,'' said interim OSU System CEO and President Marlene Strathe. ``OSU tuition and mandatory fees are less than 90 percent of the Big 12 average.''
The regents also approved a fiscal year 2008 budget topping $900 million for the 32,426-student Oklahoma State University System at its meeting Friday at OSU's Tulsa campus. It goes into effect July 1.
The budget is up more than 9 percent from last year and includes funds for health insurance, retirement benefits, equipment purchases and a 3 percent merit pay increase for faculty and staff on the Stillwater and Tulsa campuses, among others.