Courtesy of Mark Umstot Photography
Even though Kiplinger Personal Finance Magazine recently touted Texas Tech University as one of the most affordable public colleges, Tech students are about to see a slight increase in tuition and fees.
The university system’s Board of Regents approved a 3.95 percent net increase in tuition and fees for the 2014-15 academic year during a meeting via conference call on Tuesday.
According to Tech’s Tuesday press release, the 3.95 percent increase will be an additional $182.75 for 15 semester credit hours. This is equal to a $365.50 increase for a 30-hour academic year.
Chris Cook, the managing director for the office of communications and marketing, said the 2013-14 total tuition and fees cost was $9,242.10. The addition of the $365.50 increase yields a total of $9,607.60 for 30 hours during the 2014-15 academic year.
A previous Tech press release stated tuition and mandatory fees currently cost undergraduate students $7,517 for 24 credit hours. The same news release said the Board had not increased tuition and fees for the 2013-14 academic year because it hoped too boost student enrollment and retention.
During Tuesday’s conference call, the Board of Regents also approved an optional plan for incoming undergraduate students that would keep their initial tuition rate the same for 12 consecutive semesters. Students must graduate within the 4-year period to maintain the fixed tuition-only option.
Duane Nellis, Ph.D.
Photo courtesy of TTU Dept. of Communication and Marketing
The news release estimates Tech will rank the third lowest out of its nine peer institutions in Texas and in the Big 12 Conference.
Peer institutions include schools such as The University of Texas at Austin, Texas A&M University and the University of Houston.
Tech President M. Duane Nellis said the increase is necessary to decrease the student-to-faculty ratio.
“After holding tuition and fees flat last year, we requested the modest increase to allow us the resources needed to invest in our outstanding faculty and staff and continue the quality education and college experience our students expect,” Nellis said in the release. “As we become more AAU-like, investments in our infrastructure and ensuring we retain our faculty and offer competitive salaries are important.”
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