The board that governs the three state universities will consider a temporary surcharge to make up for budget cuts. Information released for the Board of Regents meeting next Thursday in Cedar Falls shows the board will be asked to approve a temporary $100 surcharge for each full-time student for the spring semester.
The University of Iowa, Iowa State University and the University of Northern Iowa are looking to make up over 58-million dollars from the governor’s 10% budget cut. The surcharge is expected to generate $5.7 million about 10% of the money lost in the budget cut. The surcharge would only apply to students for the spring semester, and would be pro-rated for part-time students.
The Board of Regents is also scheduled to take its first look at setting the new tuition rate for the next fiscal year at this meeting. It has been board policy to use what’s known as the Higher Education Price Index to adjust tuition to inflation. But the budget problems will cause the board to move away from that standard and they will be asked to approve a base tuition increase of six percent. If approved, that would increase tuition for in-state students by $346.
This the board’s first discussion the proposed surcharge and tuition increase. The board would take final action on any increase at its December meeting.
See more information on the Board of Regents website here.