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FY08 Budget Demonstrates Continued Commitment to Financial Aid and Stable Tuition Increases

July 11, 2007

The University System of New Hampshire (USNH) Board of Trustees approved a budget for the 2007-08 fiscal year and set tuition rates at the four USNH institutions: UNH, Plymouth State University, Keene State College, and Granite State College. Tuition will rise by 6.9 percent for in-state students at the three residential campuses and by 6.7 percent at Granite State College.

Tuition for out-of-state students will rise by 5.2 percent, lower than the in-state rate, but higher in terms of dollars given the difference between what in-state and out-of-state students are charged (see chart below). Financial aid remains a high priority for the board, which approved an 11.3 percent increase for student financial aid support.

The board held their annual business meeting today at the University of New Hampshire. Among their business, the Board approved the USNH operating budget for 2007-08, approved important facility-related projects at each campus, and voted in favor of a doctorate of education degree at Plymouth State University and a request for legislative authorization for PSU to offer this higher-level degree.

“We appreciated all of the support we received during this legislative session and recognize the financial pressures that exist in New Hampshire in terms of allocating state support,” said USNH Board of Trustees’ Chairman Andrew Lietz. “We continue to direct as much support as we can to assist lower income state residents with the cost of a higher education. However, we are very concerned that the financial barrier may become too formidable for more citizens in the foreseeable future, which will have a negative effect on our citizenry and our economy” he added.

Trustees voted to approve a $384 million operating budget for “education and general” purposes in FY08, which represents a 5.1 percent increase from the current FY07 level, not including financial aid. The budget also includes a 4.1 percent state appropriation increase, to $96 million. When combined with activity from auxiliary (self-supporting) operations and sponsored grants and programs, the total USNH operating net revenue and expenses will be $670 million next year.

Several expenses at USNH continue to increase at rates well above inflation. Since FY00, energy costs have increased by an average of 9.8 percent. Medical benefits have increased by 11.3 percent over the same period, while employees have taken on a greater share of this expense. Repair and renovation costs have increased by 8.9 percent over this period. When adjusted for the growth in number of in-state students, State appropriations have increased by a little over 2 percent per year on average since FY00.

The 11.3 percent financial aid increase for FY08 includes grant funding for the Affordable College Effort (ACE) as well as additional institutional funds that support New Hampshire residents. Launched last fall, ACE awards are provided to in-state students that have an expected family contribution (EFC) of less than $1,000 and who will be attending a USNH institution full time as a freshman or sophomore this fall. The award, (which was approximately $4,625 for the 06-07 academic year) combined with existing financial aid, will cover the direct costs of attendance during a student’s first two years.

For FY08, the direct costs (tuition, fees, room, and board) for in-state students will increase by 7 percent at UNH, 7.9 percent at Plymouth State University, 6.1 percent at Keene State College, and 6.7 percent at Granite State College. While the rate of tuition increase is approximately the same at each institution, the total cost of attendance increase varies due to the costs associated with the construction of new residence and dining facilities on the campuses. These room, board, and mandatory fee-related expenses have all been approved by the respective student governance groups at each institution.

In dollar terms, tuition for in-state students at the University of New Hampshire in Durham will increase by $570, to $8,810, while the Manchester campus will see a $670 increase to $8,250. Tuition at both Plymouth State University and Keene State College will rise by $400 to $6,180. Tuition for students at Granite State College will increase by $14 per credit, for a total of $222 per credit hour. What follows is a chart showing the total cost of attendance for in-state and out-of-state students at each of the four institutions for the 2007-08 academic year:

UNH

In-State

Out-of-State

Tuition

$8,810

$21,770

Fees

$2,260

$2,260

Room & Board

$8,168

$8,168

Total

$19,238

$32,198

 

 

 

PSU

In-State

Out-of-State

Tuition

$6,180

$13,730

Fees

$1,764

$1,764

Room & Board

$7,630

$7,630

Total

$15,574

$23,124

 

 

 

KSC

In-State

Out-of-State

Tuition

$6,180

$13,730

Fees

$2,108

$2,108

Room & Board

$7,460

$7,460

Total

$15,748

$23,298

 

 

 

UNH M

In-State

Out-of-State

Tuition

$8,250

$20,880

 

 

 

GSC

In-State

Out-of-State

Credit-Hour

$222

$240

“As trustees for the State’s public university system, our greatest challenge is balancing the students’ cost of attending our institutions with our cost of operating them efficiently and effectively. Our in-state students benefit by having a significant number of out-of-state students attend, and the lower percentage rate tuition increase for out-of-state students will help sustain this enrollment during the coming budget biennium,” said Board Chairman Lietz.


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