Ohio University’s Vice President for Finance and Administration presented an increase for undergraduate tuition on Thursday.
There are many factors that affect enrollment rates. One reason being that the college-bound population in the Midwest is decreasing, said Chaden Djalali, executive vice president and provost.
He also said there are other colleges in Ohio having similar problems.
University of Pittsburgh and Pennsylvania State University’s in-state tuition is similar to OU’s out-of-state tuition. Recruitment could increase in Pennsylvania to bring more out-of-state students to OU, Deborah Shaffer, OU’s Vice President for Finance and Administration said.
Director of investments, David Gaume, reported that OU’s 2019 fiscal year projected earnings are $47.8 million, but the university is currently down around $13 million. In November, OU was still $14 million in earnings. Gaume credits this decrease to the volatile stock market in December.
Bradley Cohen, senior vice provost for instructional innovation, presented the implementation of an elective course charge, which is an optional fee that gives students direct access to digital content. Students have several weeks to opt out.
If students opt out, they are responsible to acquire the text. The prices are set at the state level, which was negotiated with the OhioLink.
Another topic covered was the increase of the legal services fee. The fees gives OU students with legal assistance. The cost was originally $8 per quarter, Jason Pina, OU vice president for student affairs, said. The fee, which is currently $12 per semester, would increase to $15 per semester. Just under half of OU students pay this fee.
“They have been running fiscal deficits for the last couple of years, depleting their fund balances,” Pina said.
The forecasted budget for the 2019 fiscal year is $742.3 million and the forecasted budget is at $741.3 million, Shaffer said.
Correction: A previous version of this report stated that the tuition increase is contingent on the State of Ohio’s approval of a projected five-year average Consumer Price Index of one and a half percent in addition to a two percent tuition cap. The article has been updated to reflect the most accurate information.