The UNC Board of Governors passed a new business fee for undergraduates at Kenan-Flagler Business School, meant to expand enrollment by 50 percent on Friday, along with an increase in out-of-state student tuition.
The extra annual business school fee is $2,000 for business majors and $1,000 for minors, and will not apply to current juniors or seniors in the business school.
Douglas Shackelford, dean of the business school, said after facing accreditation problems due to having so many students in the 1980s, the school created a cap of approximately 400 business majors and minors per class in 1984.
“We admit about half the students that apply to the business school, and we know a lot of students don’t apply because the word on the street is that it’s very hard to get accepted,” Shackelford said. “So what we’ve been looking for is some way ... that we could do something that would enable us to get the funding to be able to expand the number of students who could study business.”
The proposal process for the fee formally began on campus during Fall 2017 and went through various committees on campus and the Board of Trustees, before moving on to the Board of Governors this past week. Along with the fee, the school plans to expand enrollment through fundraising and a capital campaign. This two-pronged approach is intended to expand the business school from 400 to 600 students over the next eight years.