Topics: Administrative, Board of Trustees
June 7, 2017
The Board of Trustees approved a tuition increase of 1.25 percent.
Citing strong internal financial management, the dedication of University faculty and staff, and state lawmakers’ confidence in Ball State University, the Board of Trustees today approved a 1.25 percent increase in tuition, the smallest in more than 40 years.
“The smallest tuition increase in 41 years has occurred as a result of university-wide, cooperative strategic planning efforts that reflect a strong commitment to high academic quality and a pledge to keep education affordable,” said Board Chair Rick Hall.
In late April, the Indiana General Assembly approved a 3.2 percent and 1.7 percent increase, respectively, for Ball State operating appropriations for fiscal years 2017-18 and 2018-19. State appropriations represent about a third of the university general fund budget.
“We take seriously the trust elected officials place in Ball State, as our faculty and staff create and maintain innovative programs. All these efforts continue to attract bright and ambitious students to our university,” said President Geoffrey S. Mearns.
Nearly 90 percent of first-time, full-time undergraduate students received some form of financial aid in the 2016-17 academic year, and 72 percent of those students received grants or scholarships totaling $26.3 million. Meanwhile, Ball State’s basic tuition rate remained near the bottom of Mid-American Conference (MAC) and Indiana institutions, coming in third- and fourth-lowest, respectively, in both cases.
As Ball State’s four-year completion and retention rates continue to rise, the university has budgeted a $4.2 million increase in student financial aid for 2017-18.
“Assistance comes in several forms. Additional financial aid is the tool to help some students best leverage their Ball State experience. We will continue to seek ways to innovate on all fronts, and I am inspired by our faculty and staff dedicated to our students’ success,” Mearns said.
The board also approved a 2 percent increase in the salary funding pool for faculty and professional employees. An additional $180,000 will be allocated specifically for faculty promotions.
“One important component of retaining talented employees is to offer competitive compensation,” Hall said.
In total, the university is allocating approximately $4.7 million for salary and salary-related benefit increases.
“From our financial prudence, to our impressive incoming freshman applications, to ongoing planning efforts for the Centennial, Ball State is strongly positioned for its second century, thanks to the collective efforts of our entire university community,” Hall said.