USF Trustees Act on Tuition Increase
At Wednesday's meeting, USF Trustees approved a measure that would result in an overall increase of 9 percent.
From USF News
From USF News
TAMPA, Fla. (June 14, 2012) – The University of South Florida Board of Trustees Wednesday approved an increase in the differential tuition fee that will be used to enhance undergraduate education during the 2012-13 academic year.
The Trustees’ decision must be approved by the Florida Board of Governors during their meeting in Orlando next week before it can take effect. If approved by the Board of Governors, the total cost of resident undergraduate tuition and fees per credit hour will rise by about $17 per credit hour next year or about $529 for a full 30 credit hour annual course load, which is an increase of about 9 percent over the current year.
As a component of their recommended increase, the Trustees’ provided that 40% of the revenue raised by the increase in the differential tuition fee will be dedicated to need-based financial aid for USF students. That is 10 percent higher than Florida law requires. The Board felt that dedicating this additional amount to need-based aid was critical to reflect the USF System’s student population.
The tuition differential increase recommended by the board is 11 percent, but tuition differential is just one element in overall tuition costs. When other costs are factored in, the overall increase levels out at 9 percent.
Earlier this year, the Florida Legislature and Governor Scott approved a budget that cut $300 million in public funding to the state's public universities, a reduction that goes into effect July 1.
State law allows universities to seek up to 15 percent tuition increases yearly. However, USF Trustee Brian Lamb argued that next year's USF budget had to be built "from the ground up," to balance the effect of tuition increases on students. Lamb said board members must continue to argue for state budgets that meet the increased state needs for access to high quality higher education.
USF Student Body President and Trustee, Brian Goff, concurred with the recommendation to seek less than the maximum allowable increase in the differential tuition fee.