Penn State Trustees Committee Approves Tuition Increase, Annual Budget
The Penn State Board of Trustees finance committee approved a tuition increase as well as an annual budget for 2014-2015.
The overall tuition increase for the entire university will be about 2.73 percent.
For lower-division and most upper-division Pennsylvania resident and non-resident undergraduate and graduate students attending the University Park, tuition will increase 2.99 percent. Non-resident graduate student tuition will increase 2.4 percent.
The committee approved the measure Thursday morning at the Penn State Schuylkill campus in Schuylkill Haven.
Upper-division students studying business and science, earth and mineral sciences, engineering, and information sciences and technology will see an increase of 5.16 percent, or $475 per semester, among resident students and 4.27 percent, or $668 per semester, for non-residents.
The committee approved a 2.99 percent tuition increase for undergraduate and graduate students at University Park. Out of state students will also see a 2.99 percent increase in tuition. The committee also approved up to a 2.4 percent increase for each of the university's other campuses.
A 3.97 percent increase in tuition is proposed for Penn State Dickinson School of Law students at both University Park and Carlisle.
At all campuses, the information technology fee will increase $4 a semester, to $252. The student activities fee will increase from $6 to $93 per semester and the student facilities fee will increase by $4 to $120 per semester.
The committee also approved a 4.6 billion annual budget for 2014-2015. Rachel Smith, university budget officer, says tuition provides 35 percent of the university's revenues.
Gov. Tom Corbett has not yet signed a 2014-2015 state budget, so the university estimated the state appropriation at $289.7 million, which is the same amount the General Assembly approved.
Officials say the budget includes $31 million in cost reductions.
Both measures will go before the full trustees board Friday for final approval. Penn State President Eric Barron says he will provide a more detailed budget report at Friday's board meeting.