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Editor’s note: The original version of this story incorrectly quoted Méndez-Wilson. We apologize for this error. 4/2/10; 10:54
Students may want to start looking at some financial aid options for their tuition.
The CU Board of Regents voted 8-1 raises tuition by up to 9 percent, according to a recent CU news release.
According to the news release, in-state students attending CU Boulder in the College of Arts and Sciences will now pay $7,018 per year, an increase of $572. Out-of-state students will also pay an extra 5 percent more towards tuition, or $1,300, adding up to $28,000.
Deborah Méndez-Wilson, CU system director of communications, said the incoming money will go towards maintaining university programs.
“It’s going towards keeping all of the high-quality university programs in place,” Méndez-Wilson said. “It’s also going to meet our commitment to financial aid for middle and lower-income students.”
According to the CU Budgets Web site, the state of Colorado cut $121 million in higher education funding for 2009-2010. Additional help from federal stimulus funding ends at the close of this fiscal year.
Méndez-Wilson said the tuition increase only composes a portion of the money lost through state funding cuts.
“This is making up 20 percent of the money,” Méndez-Wilson said. “Nearly 60 percent has been cut through state funding since last July.”
According to the news release, CU Vice President and Chief Financial Officer Kelly Fox told the Board of Regents the cost of attendance for three of the four CU system schools would increase. Fox said CU Boulder attendance costs would rise by 4 percent, as compared to a 3.5 percent increase at CU Colorado Springs and 4.5 percent increase at CU Denver.
Josh Maultsby, a 20-year-old junior chemistry major and in-state student, said he has been keeping up with the tuition debate. Maultsby said the tuition raise will not change his plans greatly.
“I’m broke already,” Maultsby said. “I’m poor either way. I’m already working two jobs.”
Aimee Anderson, a 20-year-old senior psychology major and in-state student, said a change in tuition will lead to bigger loans.
“I would have to get a bigger loan that would take longer to pay off,” Anderson said. “This school is still one of the cheaper in-state options, though.”
Anderson said she thinks the tuition raise discourages incoming freshmen.
“They already want everyone to attend college,” Anderson said. “The tuition raise probably isn’t helping that.”
Contact CU Independent Staff Writer Jennifer Retter at Jennifer.email@example.com.