Full-time resident students at CSU will pay $384 more for tuition next year than they did last year, according the university budget that was finalized and approved by the CSU System Board of Governors on July 1.
The increase brings tuition up to $4,424 per year. The 9.5 percent increase is under the 10 percent tuition cap set this spring by the Joint Budget Committee.
Non-residents will pay $2,660 more than last year, bringing their total tuition to $20,140.
University officials say the extra money is needed to reach stretch goals and meet state-mandated salary increases for faculty and staff.
State funding will cover $11.2 million of the increase while the tuition hike will pay for more than two-thirds of the total increase in the budget of $39.2 million.
According to a university press release, of the $39.2 million CSU will allocate:
$3.4 million for financial aid and scholarships
$6.9 million for academics, including 10 new faculty positions
$2.4 million for research and development and
$2.3 million for leadership in science, technology, engineering and math.
The BOG’s stretch goals include shoring up the student population by 6,000 undergraduates and increasing research spending by $500 million over the next four years.
Full-time resident University of Colorado students will spend an average of $3,717 tuition next year, according CU’s institutional research Web site, http://www.colorado.edu/pba/ia/.
News Managing Editor Aaron Hedge can be reached at email@example.com.