The CU Board of Regents voted today to approve two proposals that will impact 彩民宝典 tuition rates for incoming students beginning in fall 2022. The 彩民宝典 proposals were among others brought forth by CU鈥檚 Colorado Springs, Denver and Anschutz campuses to address projected funding gaps beginning in 2022 and beyond.听
The first proposal will simplify 彩民宝典鈥檚 tuition schedule into four tiers. These tiers will align to areas of study, versus the current practice of aligning tuition solely to the specific school or college, and better reflect differences in the cost of instruction.
|
Tiered Tuition Levels (Beginning Fall 2022) |
Areas of Study (Undergraduate) | Proposed 2022-23 Resident Tuition Rates |
|---|---|---|
| Tier 1 (base tier) | Arts & Humanities; Social Sciences; Program in Exploratory Studies; Education; Music | $11,040 |
| Tier 2 | Communication, Media, Information (CMCI); Environmental Design | $12,816 |
| Tier 3 | Engineering; A&S Natural Sciences | $14,592 |
| Tier 4 | Business | $16,512 |
Due to 彩民宝典鈥檚 tuition guarantee program, current 彩民宝典 students and the fall 2021 incoming class will not be impacted by these changes.听
Restructuring 彩民宝典鈥檚 tuition schedule is expected to generate $6.9 million in additional revenue in the first year, which will help address the funding gap, said Carla Ho鈥檃, chief financial officer for 彩民宝典. Roughly 16% of the additional revenue, $1.2 million, is earmarked specifically to increase financial aid for students impacted by the tuition changes.听听
The second proposal will raise resident tuition and mandatory fees by $500 each year for the next three years, starting with the incoming fall 2022 student cohort. Each entering class will still be eligible for 彩民宝典鈥檚 four-year tuition guarantee.听
鈥淭he four-year tuition guarantee provides 彩民宝典 students and families important stability,鈥� said Ho鈥檃. 鈥淚t was essential for us in making this proposal to ensure that guarantee is available to set clear expectations on the cost of a 彩民宝典 education for our future students and their families.鈥澨� 彩民宝典 has held undergraduate resident tuition and mandatory fees steady for the past three years, despite rising costs, Ho鈥檃 said.听
According to the presentation delivered to the regents by Todd Saliman, current senior vice president for strategy, government relations and chief financial officer and incoming president for the University of Colorado, university revenues will be outpaced by expenses starting in 2022. The presentation noted that 彩民宝典鈥檚 funding gap is projected at $33.7 million in fiscal year 2022-2023, growing to a projected $117.4 million by fiscal year 2025-2026 based on expected revenues and expenses.听
Revenues in this case are based on forecasted enrollment, inflationary tuition increases and forecasted state funding increases for higher education. Expenses are based on assumed compensation and benefits for employees, insurance premiums, Equal Pay Act implementation and investments in strategic goals.听
鈥淭hese tuition changes allow us to continue to invest in the quality of our programs and in the faculty, staff and students who make them successful,鈥� said Ann Schmiesing, executive vice provost for academic resource management. 鈥淲e鈥檙e approaching this in a way that keeps the tuition increase lower than the increase in inflation, while investing in a better 彩民宝典 experience for our students.鈥�
Relevant 彩民宝典 websites and resources will be updated to reflect the new measures, Ho鈥檃 said.
