STORRS, Conn. (WTNH)– It’ll cost more to go to UConn next year and even more the year after that.
UConn’s Board of Directors voted to raise tuition over the next five years and students aren’t happy about it.
Tuition at Connecticut’S flagship university is going up by 6 to 700 dollars a year for the next five years. The move is based on a new formula.
“That takes into account prior year’s tuition, plus a factor for inflation, plus a factor for changes in state support, plus $100,” said Scott Jordan, CFO, UConn.
That $100 is meant to improve quality over time. The University of Connecticut’s Board of Directors voted unanimously Wednesday to approve the tuition hike. It takes effect next fall.
It’ll raise tuition for in-state students to more than $14,000 and raise out-of-state costs to roughly $36,000.
“Nobody likes an increase, of course, but want to make it as clear as possible and we’re going to try to keep it as low as we can,” said Thomas Katsouleas, President, UConn.
UConn gets about $200 million a year from the state. That’s down about $40 million from years prior. The school’s fastest growing expense: employee benefits.
“UConn’s state support sort of trends right along with the health of the state budget,” said Scott Jordan, CFO, UConn.
UConn says it’s all an effort to attract the best and brightest. But students we spoke to wish tuition costs would stay the same all four years and stop going up.
“I come from a low income household so it’s already hard enough for me to pay for it already. So I’m not really comfortable with that at all,” said Brian Ozenne Jr., Hartford, Freshman.
“In-state tuition is pretty reasonable but if they’re going to keep increasing it for Connecticut residents, I don’t think that’s reasonable,” said Sarah White, East Lyme, Sophomore.
The university says it’s committed to keeping UConn affordable for students so while they’re raising tuition, they’re also increasing the amount of aid UConn gives to students to about $123 million next year.