Regents approve tuition increasesSept. 24, 1996
Regents approve tuition increase
By Liberty Lay and Amy Priour
Lariat Staff Writers
The Baylor Board of Regents approved a tuition increase, with a 7.8 percent financial cap.
The financial cap will provide an advantage in recruiting, said President Robert B. Sloan, Jr. 'We need to be able to give people information.'
Actual tuition rates will not be approved until the next board meeting, which will be Oct. 25-26.
If the full 7.8 percent increase is approved, tuition will rise from $269 per hour to $290 per hour. However, administrators are hopeful that the increase will not be that high.
'We are trying to revisit this and bring it down. This (7.8 percent) is the maximum increase you will see,' Dr. Stan Madden, vice president of university marketing, said.
Regents also approved an installment plan for tuition and fees which will become effective in the fall of 1997. This plan will allow students to pay a down payment of one-fourth of the total sum with the remainder paid in three monthly installments during the semester. There will be a $50 administrative fee for this plan.
'It's very important that higher education is made as available and accessible as possible,' Sloan said.
Another option for tuition payment is the possibility of a guaranteed tuition plan.
Such a plan would allow students to pay the same tuition rate for all four years of college.When this plan is initially offered, the set rate will be higher than the proposed rate.
This difference will allow the University to be compensated for any tuition increases that will occur during a student's years at Baylor. Tuition increases will affect incoming students and students who do not choose to participate in the set rate plan.
'I'm very hopeful we can get a proposal like that on the table as soon as possible,' Sloan said.
These payment options will create a situation in which students pay different amounts of tuition at different times.
This expansion of the current plan will likely increase the workload for financial administrators.
'It's a greater challenge for the University,' Sloan said. 'I believe it's worth it.'
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