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November 12, 2003

Tuition rates set for 2004-05

by Anne Krapfl
Tuition for Iowa State students will be contained to single-digit hikes for the 2004-05 academic year in a plan approved Nov. 12 by the Board of Regents, State of Iowa.

As approved, base tuition for resident undergraduates will increase $360 --- 8.3 percent -- from $4,342 to $4,702 next year. Resident graduate students will pay $450, or 8.9 percent, more (a jump from $5,038 to $5,488). Regents said they want to encourage access to Iowa schools for Iowans.

Non-resident undergraduate tuition will go up $720 (from $13,684 to $14,404) or 5.3 percent and nonresident graduate tuition will rise 6.3 percent, from $14,214 to $15,114 (a $900 increase).

A year ago, the regents approved tuition increases of 10.5 percent to 17.6 percent.

The undergraduate mandatory fee will go up $38, from $686 to $724. The largest piece of that increase is a $20 hike in the student services fee, so students can ride CyRide routes for free.

The regents also agreed to maintain the minimum financial aid set aside -- a portion of gross tuition revenues used for student financial aid -- at 15 percent, as set a year ago. The focus of these dollars will remain on need-based aid.

The new tuition and fee rates go into effect with the 2004 summer session.

In other business, the regents:
  • Received Iowa State's general plans for dealing with an $8.3 million mid-year budget cut. As announced last month, $5.8 million of the cut is a reversion in the state appropriation to the university, $1.5 million is due to a tuition shortfall and $1 million is a shortfall in indirect cost recovery revenues. Sometime in the spring, the regents will review and approve a detailed, revised version of the university's FY04 budget.

  • Received annual reports (2) on employee fringe benefits and student retention and graduation rates.

  • Formally approved the reorganization of four ISU outreach programs into a single unit, "IPRT Company Assistance." The four units are the Center for Advanced Technology Development, Iowa Demonstration Lab for Nondestructive Evaluation, Iowa Companies Assistance Program and the Iowa Industrial Incentive Program.
The regents' next meeting is scheduled for Dec. 15-16 on the Iowa State campus.

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