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OSU Finance Committee Recommends Tuition Hike
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In an effort to offset a loss in federal funding, an Ohio State trustees committee approved a recommendation to increase tuition.
OSU students likely will see an increase in their tuition bills starting in the fall.
The Finance Committee approved the university’s recommendation to increase undergraduate tuition by 3.5 percent. That’s about $315 per student each year. Tuition hikes are capped at 3.5 percent as proposed in the state budget.
OSU Chief Financial Officer Geoff Chatas said the university will lose about $60 million dollars in federal stimulus money this year that will not be replaced by the state.
“So this tuition increase will allow us, on some level, to offset some but not all of that loss of the state support for instruction,” Chatas said.
Overall, Chatas said the tuition hike would produce an additional $20 million in annual revenue for university.
Graduate tuition would increase by 5 percent. However, the housing and dining fee will increase by nearly 6 percent. Parking fees, less than 5 percent. Mandatory fees, like those for the union and the recreational centers, are expected to remain the same.
The recommendation goes before the full board of trustees for approval Friday.