LUBBOCK, TX (KCBD) - After freezing costs last year, the Texas Tech Board of Regents voted unanimously to increase tuition and fees by nearly 10% Monday. Here's how that breaks down for a student taking 15-credit hours. For one semester, they will pay an additional $351.00, of that, $283.00 is tuition, $68.00 goes towards increased fees.
School leaders say the increase is needed to attract and retain faculty. They say money will also be used to increase student enrollment. The president of Tech's Student Government Association says all that means is a higher quality institution for students.
"Students very much appreciated tuition not increasing last year. That was something that we did not take for granted," SGA President Suzanne Williams said. Times are changing, though, according to Williams, and she says while students aren't thrilled about paying more, most understand. "The economic status as well as the increases that Tech is really looking into as far as Tier 1 status that we're aspiring to be, we very much understand that there are needs, areas that increases are necessary," Williams said.
Tech President Guy Bailey says this increase is essential for Tech to reach Tier 1. "It will keep us from falling further behind in faculty salaries and be helpful in retaining. We're, right now, losing some of our best faculty," Bailey said. He also says they'll spend more to attract new students to Lubbock, in their ongoing effort to reach 40,000 by 2020. "We'll be more aggressive in our recruiting, especially with graduate students, transfer students, and freshmen as well, but we need some financial resources to do that," Bailey said.
That's another reason Williams says the SGA feels the increase can be beneficial. "We've really done a whole lot of research on the fees that were proposed, as well as the increases, and where that money would go to, just making sure that we're not just saying okay, let's just increase funds, that they are for a very valuable reason and necessary reason for the university," Williams said.
The increase still places the cost of Tech's tuition below UT-Austin and Texas A&M, two of the university's main competitors. Among all state universities, Tech places seventh for the estimated costs of Fall 2009 tuition and fees.
Regents also approved a nearly 13.5% increase in tuition and fees for Angelo State University in San Angelo.
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TTU Board of Regents approves tuition increase
Texas Tech University students will pay more for tuition this fall. The TTU Board of Regents approved the hike Monday afternoon. Regents approved a 9.9% increase in tuition and fees. It takes affect this fall.