TROY—Troy University’s Board of Trustees has approved a tuition and fee schedule for the 2010-2011 academic year.
The trustees took the action Friday in a meeting on the Troy Campus. The new tuition schedule will take effect for the fall 2010 semester.
The trustees’ resolution increases undergraduate tuition from $193 to $216 per credit hour and graduate tuition from $220 to $246 per credit hour. The board also increased the general student fee from $8 to $24 per credit hour.
Jim Bookout, Senior Vice Chancellor for Finance and Business Affairs, said the combination of a declining national economy and a three-year cycle of reduced state appropriations were the primary reasons for the increases.
Bookout pointed out that TROY’s state appropriations have been reduced 28 percent over the last three years. The March 19, 2010 edition of The Chronicle of Higher Education reports that since 2008 state spending on higher education in Alabama has dropped 20.1 percent, the deepest such cuts in the nation.
In the budget recently passed by the Alabama Legislature, TROY will receive $45,092,510 in state funding and $4,599,282 in federal stimulus dollars for a total appropriation of $49,691,792. Last year, TROY received $49,034,913 in state appropriations.
“Declining state appropriations are just part of the challenge,” Bookout said. “Universities across the country are coping with the negative effects of a stagnant economy by approving increases in tuition and fees. We are committed to good stewardship at Troy University and we have worked hard to keep the tuition increases as low as possible. We will continue to aggressively manage our costs.”
Bookout added that even with the tuition increases, TROY’s fee schedule remains below the national average for public colleges and universities.
The trustees’ resolution also: