Top University officials said Monday that it’s too early to say if recently approved tuition hikes will meet campus needs, even though it appears the increases will bring in almost $3 million less than UNC-Chapel Hill wanted.
The UNC-system Board of Governors approved a $700 increase in the University’s nonresident undergraduate tuition Friday and passed hikes for graduate and professional students.
All told, the increases will generate $4,681,100.
Of that total, 40 percent will be reserved for need-based student aid. The remainder will be funneled into faculty salaries and teaching assistant stipends.
Richard “Stick” Williams, chairman of the UNC Board of Trustees, said he is disappointed with the governing board’s final decision — particularly the freeze on in-state tuition.
“I think it will make a nice contribution,” he said. “But I think that total package that we put together … was much better for the University.”
Trustees had requested a $950 hike in out-of-state tuition and a $200 increase for N.C. residents, but BOG Chairman Brad Wilson called for a freeze on in-state tuition. The BOG followed suit.
The move spurred Student Body President Matt Calabria and Student Congress Speaker Charlie Anderson to propose a $250 reduction to the out-of-state increase — Chancellor James Moeser concurred.
But a reduced hike means less funding, particularly for faculty-retention goals, Williams said. “We are going to have to hope that what monies we get from this and dollars from previous increases will help us to fend off some of the offers that the faculty will get.”