OOS Cost of Attendance?

rrah
Thu, 05 Mar 2009 19:26:33 +0000

This is the year Indiana passes it’s two year budget bill. The House recently passed a bill that included a 1% increase in spending for all IU campuses (doesn’t necessarily translate to tuition though). The entire bill is now in the hands of the Senate. It’s fairly certain the Senate will make changes. The House bill passed along party lines. The House is currently controlled by Dems. The Senate is controlled by Republicans.

The bad news in all of this is that the IU Board of Trustees won’t decide on tuition rates until May. The following quote is from a recent local newspaper article.

"IU’s two main sources of revenue are tuition and state appropriations, which may present timing challenges this year. The trustees are scheduled to vote May 7-8 on tuition and student fee rate increases for next fall. The state Legislature is scheduled to wrap up the current session April 29 — unless members don’t have a finished budget, and have to go into special session.

This year, about 22 percent, or $572 million, of IU’s $2.6 billion budget came from state support, while 57 percent came from tuition.

Neil Theobald, IU vice president and chief financial officer, told the trustees it is wise that IU doesn’t budget endowment money, and that IU is faring better than many other universities. There is, he said, “no need for emergency actions that you’re hearing about at other universities, liquidating assets and such things.”