IOWA, USA — The Iowa Board of Regents met Thursday to discuss potential tuition hikes at Iowa's three public universities.
The board discussed the proposed 2023-24 tuition rates at Iowa State University, University of Iowa and University of Northern Iowa.
If the proposal moves forward, undergraduate students at these universities could see the following tuition hikes:
- Iowa State University: +$304
- University of Iowa: +$305
- University of Northern Iowa: +$285
Tuition increases would be higher for out-of-state students at Iowa State and UNI, coming in at an increase of $1,006 and $675 respectively.
"Funding from the proposed tuition increases will help address growing financial challenges including inflationary cost increases, recruiting and retaining faculty and staff in national markets, meeting collective bargaining terms (e.g. AFSCME & UNI United Faculty), deferred maintenance needs in academic facilities, and student financial aid to provide higher education opportunities to more students," the Board of Regents said in its proposal.
With the proposed tuition rates in place, the three universities are projected to generate $29 million in revenue for the 2024 fiscal year.
In addition to an increase in tuition, students may also see a price increase when it comes to mandatory student fees. These increases are proposed by the universities themselves to in response to student needs, according to the Board of Regents.
No vote was taken at the meeting on Thursday.
The board will vote on the proposed tuition rates at its June meeting.
Local 5 is now on Roku and Amazon Fire TV. Download the apps today to stream live newscasts and watch video on demand.