During a meeting of the Northwest Missouri State Board of Regents Thursday, the board approved raising undergraduate tuition 1.9 percent for the 19-20 academic year. The vote was 6 in favor and 2 against.
Story follows from Northwest News Service:
Regents approve 2019-2020 tuition with no increase to fees
MARYVILLE, Mo. – Northwest Missouri State University’s Board of Regents, during its regular meeting Thursday, approved an increase of the University’s tuition for the 2019-2020 academic year with no increase in required fees and room rates.
Tuition will increase by an estimated average net price of $368 for undergraduate in-state residents and $553 for undergraduate out-of-state residents based on enrollment in 28 credit hours during the course of the academic year.
The increase is based on the allowable rates for undergraduate resident tuition and fees, provided by the Missouri Department of Higher Education under the Higher Education Student Funding Act (HESFA), which also accounts for increases in the Consumer Price Index (CPI) and decreases in state operating support.
The proposal approved by the Board called for no increases in room rates and fees related to technology, textbooks and student‐approved designated fees. However, meal plans will increase by an average of 2.5 percent, based on CPI and the University’s contract with its third-party vendor, depending on the meal plans students select.
For graduate programs, the Board approved a revised rate structure after benchmarking of other graduate tuition rates indicated Northwest’s out-of-state rates put its graduate programs at a competitive disadvantage. For 2019-2020, Northwest has established its graduate tuition based on market demand and program offerings at rates of $335 per credit hour for business programs, $330 per credit hour for computer science and information systems programs, and $285 per credit hour for all other graduate programs.
Presenting the University’s proposal to Regents, Northwest Vice President of Finance Stacy Carrick reiterated Northwest continues to be a great value proposition and is one of the most efficient in the region in delivering a quality education and programs to its students and stakeholders.
“As we consider our budget decisions, we are focused on achieving our results,” Carrick said. “We have a history of high performance and we’re very proud of that, and in order to meet those goals we have to build for the future. There are two key philosophies we focus on and that’s protecting affordability for our students and preserving quality of learning, which we do through our people. Both quality and affordability are what we believe provides value to our students.”
Northwest reports that 97 percent of its first-time, full-time students receive some type of financial assistance. Additionally, Northwest’s net price is in the lower one‐third of its peer, public institutions in Missouri, Iowa, Nebraska and Kansas. Furthermore, Northwest’s average student indebtedness is lower than state and national averages, and its student loan default rate of 7.8 percent is below the state and national averages of 10.3 percent and 10.8 percent, respectively.
Northwest’s placement rates for undergraduates and graduates, meanwhile, are 97 and 99 percent, respectively. The University also points to the value of its internationally benchmarked student employment program, which provides about 1,200 jobs to students on the campus, and its textbook and laptop rental programs, which are included in the University’s tuition rates and not offered by most universities.
The textbook program bundles and provides undergraduate students with all of their primary textbooks at the start of each semester. The laptop program provides all students with a fully loaded laptop notebook computer as well as technical support. The programs save students an estimated total of $7,400 – the equivalent of about one year of tuition at other Missouri institutions – during the course of a four-year academic career.
In other business, the Board gave authorization to Northwest President Dr. John Jasinski and Carrick to execute a contract with E.L. Crawford Construction Inc. for $803,200 to refresh Roberta Hall. The project, which the Board approved in October, not to exceed $1 million, will include plumbing, electrical, lighting and other enhancements to improve the living experience in the residence hall. The project is a part of Northwest’s Residential Life Master Plan and will be funded with money from the University’s auxiliary capital and campus master plan funds.
The Board of Regents is responsible for sound resource management of the University and determining general, educational and financial policies