By: Dave Taylor, ISU Communications and Marketing Staff
June 14, 2013
Indiana State University officials say a new tuition and fee schedule and operating budget reflects their ongoing commitment to affordability.
Tuition and fees will rise by less than 2 percent each of the next two years following action by the university's board of trustees on Friday. Full-time, in-state students will pay $4,028 per semester in tuition and fees for 2013-14, an increase of 1.95 percent, or $79, from last year.
"Indiana State University continues to make significant strides in maintaining affordability for students and parents," said university President Dan Bradley. "The entire campus has come together to meet the challenge of keeping all cost increases as low as possible while ensuring a quality education and the best possible learning environment."
Diann McKee, vice president for business affairs and finance, said the tuition increase is needed to continue progress on the university's strategic plan and to meet unavoidable increases in such areas as health insurance and utilities.
Trustees approved a $152.3 million operating budget that reflects a 4.3 increase from this year and includes $1.2 million in internal reallocations to fund salary increases and other priority budget items. The budget includes a projected 2 percent increase for salary adjustments but criteria for any pay raises will be determined only after final fall enrollment numbers are known and will depend on overall budgetary conditions, McKee noted.
The budget includes a projected 4.7 percent increase in health insurance and relies on internal reallocations to fund adjustments in department supplies and expenses. It sets aside $11.9 million, or 7.8 percent of total operating expenses, for academic and need-based student aid. It also includes $1 million for continued funding of the university's strategic plan and $3.25 million for repair and rehabilitation of buildings.
Trustees also authorized university administrators to seek state approval to relocate the Sycamore track and field facility to recently acquired university property in the Wabash Riverfront area. The project, included in Indiana State's 2009 master plan, carries an estimated cost of no more than $4.3 million and would be funded by interest income, commissions and private donor support.
Indiana State's governing board also approved guidelines for the new University College. Among other things, those guidelines are designed to ensure appropriate training and professional development for all academic advisors of first-year students and that quality advising is provided to all students in the college. University College was created as part of Indiana State's commitment to ensure that students make the best possible start in their college careers. Students who have declared a major will transition to the appropriate academic college after completing at least two semesters in University College.
In other action Friday, Indiana State trustees:
• Changed the name of the Student Academic Services Center to the Center for Student Success
• Approved changes in the administrative structure of academic departments along with a variety of other updates to the Faculty Handbook
• Approved a new baccalaureate degree structure that is consistent with a new state law limiting most bachelor's degrees to no more than 120 credit hours
• Approved a four-year lease agreement with Sodexo dining services for the Sycamore Banquet Center and adjacent Commons (food court) area of Hulman Memorial Student Union
• Approved addendums to a 2011 memorandum of understanding with the Indiana State University that provide $400,000 annually in university financial support for foundation advancement staff working with the university's academic colleges, Cunningham Memorial Library and student affairs and $97,000 per year for event management services
• Approved a change in trustee by-laws to provide for notice to the governor whenever a member misses two or more meetings per year.
Media contact and writer: Dave Taylor, media relations director, Office of Communications and Marketing, Indiana State University, 812-237-3743 or firstname.lastname@example.org
Tuition and fees will rise by less than 2 percent each of the next two years following action by the university's board of trustees. Full-time, in-state students will pay $4,028 per semester this fall, an increase of $79 from last year.