Troy University's board of trustees approved tuition hikes early this month to generate an additional $11.18 million to help revive a $23.1 million deficit in revenue. The tuition increases will be matched by $11.9 million in spending cuts.
"We need to lead by example. We can't ask for one measure and demonstrate something else," said Gerald Dial, the board's president pro tempore. The resolution noted Troy sustained a 5 percent cut in state funding for the 2012-13 school year -- down 32 percent from fiscal 2008 -- and is only expected to regain 1 percent in the 2013-14 school year.
Undergraduate tuition credit hour - $249 (2012-13); $264 (2013-14)
Graduate - $307; $338
eTroy undergraduate - $280; $308
eTroy graduate - $450; $460
General fee per credit hour - $32; $35
Senior Vice Chancellor for Finance and Business Affairs Jim Bookout said that the recent dip in enrolments was one of the reasons for the shortage.
Bookout also pointed out that one of the perks of lower enrolments is it gives the officials ample time to postpone hiring for planned instructional positions. He assured that faculty and staffs are not at risk of losing their jobs as a result of the budget cuts.
Director of State and Federal Government Relations Marcus Paramore said that the university ranks 14th among four-year schools in per student funding from the state.
Bookout said that just 19 percent of the university's budget comes from state allocations. Regardless of the increase, he stated to the board that the university is still the seventh lowest in terms of total costs, fifth lowest in undergraduate tuition, and third lowest in graduate tuition.
