The Colorado State University Board of Governors approved CSU’s proposed tuition increases for the 2015-16 fiscal year Thursday. With the approved increases, per semester, a current resident undergraduate will pay $433 more in tuition costs, and a non-resident undergraduate can expect an increase of $962.
In total, all proposed tuition increases amount to $20.8 million in new revenue. An additional allocation of over $10.8 million in funds from the State, and some overhead money from facilities and administrations, means that CSU has $32 million in new resources to spend in their operating budget totaling over $1.05 billion.
The new resources will, in part, provide funding for new expenses, including $9 million in salary and benefit increases for faculty, $4.4 million in other mandatory costs related to new facilities and debt services and $4.7 million for new costs in financial aid, tuition and health benefits.
The rest of the $32 million in new revenue would be spent on $14 million worth of “quality enhancements,” which includes spending on academics and infrastructure dependent on department needs. Over $8 million under “quality enhancements” is left discretionary. The rest of the money is directed through funding programs.
This story is developing. Stay with the Collegian for more updates.
Collegian Report Skyler Leonard can be reached at email@example.com or on Twitter @skyler_Leonard.