The University of Connecticut board of trustees on Wednesday approved a tuition hike of $ 625 for the 2021-22 school year, continuing the five-year tuition adjustment plan the university has adopted almost two years ago.
In December 2019, UConn approved a tuition increase of $ 625, or 4.4%, for the 2021-2022 academic year as part of its tuition adjustment plan. In the first year of the five-year plan, tuition increased by $ 608 for all students. Next year, it will increase by $ 625, raising the tuition fee for the 2021-22 academic year to $ 15,030 for in-state students and $ 37,698 for out-of-state students.
While the plan approved at Wednesday’s meeting does not include increased accommodation costs, it will increase specific transportation costs and student fees. The UPass program will see an increase of $ 8, health and wellness costs are expected to increase by $ 56 to help strengthen mental health services, and there will be a $ 2 increase in student activity fees. for the costs of producing the directory.
Earlier this year, former UConn president Thomas Katsouleas suggested halve the increase in tuition fees to 2.2% or $ 312, but the university’s outgoing chief financial officer, Scott Jordan, explained at a June 14 finance committee meeting that university officials have decided not to follow through on the proposed cut.
âWe originally came up with, ‘Hey, why don’t we cut tuition fees by $ 7 million?’ Where we are now, with both federal, state and institutional support, is “Why don’t we have a very directed and carefully constructed program to provide help to students who need it?” the university’s financial aid budget is expected to be $ 255 million for the next fiscal year, which is an increase of $ 67 million over the pre-COVID budget.
UConn plans to distribute $ 28.5 million from the latest round of federal emergency relief funds to students with significant financial need over the next academic year.
“We think it’s better for the university, as it relates to the long-term financial needs of the university, and better for the students as it relates directly to the need that will exist next year,” said Jordan.
UConn faced a forecast budget shortfall of $ 76 million last fall for fiscal 2021, but was able to save $ 44.8 million through a combination of hiring and spending freezes. These savings, along with federal and state aid, allowed the school to balance its budget, he said.
UConn’s 2022 budget is also expected to “be in balance despite a structural deficit of $ 40 million” which is largely due to legacy costs, Jordan said. The 2022 budget adopted by the board of directors on Wednesday contains $ 1.6 billion for Storrs and regional campuses and $ 1.39 billion for UConn Health’s medical, clinical and academic operations.
Most of the revenue losses over the past year have been due to the reduction in student housing necessitated by the pandemic, but officials predict the university will have 85% residential housing capacity this fall.
Additionally, Acting President Dr Andrew Agwunobi told the board that 6,370 first-year undergraduates are expected to enroll in the fall – more than 3,700 are expected at Storrs, and 1 800 others registered on regional campuses.
“The management teams, the deans, the faculty, the staff and all of us, and I hope the students too, are all confident that we will successfully and safely open at full or near full capacity in the fall. “said Agwunobi.