Resident undergraduate tuition could increase 6 percent next year, which would be around $300 for a 15 credit student a semester.
Provost and Executive Vice President Rick Miranda presented the proposed budget for the 2015-2016 academic year to the Associated Students of Colorado State University Senate Wednesday night.
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According to Miranda, as the budget sits right now, the University would be short by about 3.5 million dollars next year.
“We don’t have a balanced budget yet,” Miranda said. “Sitting here on Dec. 10, we don’t yet have a full grasp on the budget.”
Along with the proposed 6 percent increase for resident undergraduate students is a 4 percent increase for non-resident undergraduate students, 3 percent increase for resident graduate students, 5 percent increase for resident professional veterinary medicine students, 3 percent for non-resident graduate students and 3 percent for non-resident professional veterinary medicine students.
“We are limited by a 6 percent resident undergraduate tuition increase,” Miranda said. “This is a hard cap for resident tuition. We’d like this number to be lower, though it is unlikely that it will be.”
According to Miranda, 67 to 75 percent of funds coming in to the University are from student tuition.
The University administration is expecting to increase costs in a number of areas this year, including paying for full health coverage for graduate teaching assistants, increasing faculty and staff salaries and increasing the number of faculty and staff on campus.
According to Miranda these increases will keep CSU in its position as the third most expensive state higher learning institute, behind the Colorado School of Mines and CU-Boulder.
Miranda also mentioned several ways in which the University is looking at lowering costs, particularly by increasing energy sustainability.
These numbers continue to change weekly and will not be finalized until they are sent to the CSU Board of Governors in April.
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Collegian ASCSU Beat Reporter Jonathan Matheny can be reached online at news@collegian.com or on Twitter @jonathanmathen2
