BOULDER, Colo. — In-state tuition will be raised 8.7 percent next year, after University of Colorado regents voted 6-3 Tuesday to approve the new increase.
Annual rates will cost $8,760 for students in the College of Arts and Sciences, according to the Daily Camera.
“I’m deeply concerned about the affordability and accessibility of a CU education — particularly on the Boulder campus,” said regent Joe Neguse, D-Boulder.
According to the Camera, regents Jim Geddes, R-Sedalia, Sue Sharkey, R-Windsor, and Neguse all voted against the tuition increase.
The regents expressed concerns that the university’s expenses shouldn’t be placed on the backs of its students.
Neguse would like the university to explore a locked tuition rate for in-state students instead.
State funding currently makes up 5.3 percent of CU’s $2.9 billion budget. This year, the CU system is receiving $141 million, plus $3 million in one-time funding to backfill cuts, according to the Camera.
Full-time students are paying $358 for 11.25 credits a semester right now. Based on the new tuition proposal, full-time students would be charged for 12 credit hours, and the cost of the credit hour would increase to $365.
The Board of Regents also unanimously approved a 3.1 percent merit-based compensation pool for faculty members and exempt employees.
“My top priority is compensation for faculty and staff,” Chancellor Phil DiStefano said, after pointing out that more faculty members are getting offers from other colleges.
Regents approved a 1.9 percent increase for first-year, out-of-state undergraduates, raising the incoming rate to $30,538. In-state graduate tuition rates will be raised 2 percent, to $9,936, and non-resident graduate rates will also be raised 2 percent, to $26,712.
The state budget proposes that CU’s Boulder receive an extra $3.9 million in funding next year, which would bring the total amount of state funding to $58.7 million.
The budget bill is headed to the conference committee on Wednesday, and will require the governor’s signature.