Apr 26, 2010 Posted by brindils on Apr 26, 2010 in Finance | 0 comments

College tuition on Tenn. could increase 6 to 11 percent

In a down economy, heading back to school can be the best option for many of you. Unfortunately the same financial hardships are hitting colleges and universities.

Now, community colleges and universities in Tennessee, could soon charge you more for tuition, but they don’t know how much more, yet. That’s because they’re waiting for the state to decide how much more they have to increase their tuition, for this coming fall.

Kari Branum is nearing finals of her second semester at Roane State Community College, and simply looking forward to her degree in Respiratory Therapy.

Kari says, “It was the closest one, it was the most affordable for tuition, and things like that.”

Community colleges are known for their affordability, which is why enrollment goes up, in a down economy, as people seek out a better career.

Unfortunately, the colleges are not exempt from financial hardships.

Melinda Hillman, Vice President at Roane State, says, “Over a 3 year period, we’ve essentially had to cut our budget about 30%, and that includes over next year as well.”

Roane State has already scaled back their budget, in anticipation of the Tennessee Board of Regents cutting back funding.

Melinda says, “Now if the state dollars are being reduced, that means we have to make that money in one of two ways. And, that’s by cutting services or increasing tuition, and we are doing a combination of both.”

The Business and Finance Committee, for the Board of Regents is currently discussing their recommendations for the next school year, with their current scale of potential tuition increases, between 6 and 11 percent.

Kari says, “Doesn’t really surprise me at all, because UT also has had tuition increases and things in the past. It’s just going to, in my case, cause me to have to get more student loans and have more to pay back in the future”

Kari hasn’t had any luck getting scholarships or grants, because they are in high demand.

Melinda says, “It’s nearly 70 percent of our students, receive some sort of financial aid, be it scholarships or need based.”

Kari is now just one student, at the 45 institutions within the Board of Regents, waiting to see how much her tuition will go up.

The Business and Finance Committee will discuss their recommendations a little further, and they will present the tuition increases to the Board in June.

We won’t know what the Board decides for this coming school year, until the vote at the end of June.

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