TBR Approves No Tuition Hike and Reduced Out-of-State Fees for 2014-15
The Tennessee Board of Regents approved two proposals from the University today that will keep maintenance fees (in-state tuition) flat for the upcoming academic year and will also significantly reduce the amount out-of-state students pay to attend the U of M.
After an average increase of 7.3 percent over the last 10 years, we proposed that maintenance fees, commonly referred to as tuition, remain flat for 2014-15. This marks the first time in 22 years that all U of M students will not see a tuition increase. The University has always been a great educational value, but it is an even better value now.
Today’s historic announcement means that undergraduate in-state students taking a full academic course load of 12 hours will continue to pay $7,056 per year, plus mandatory fees of $1,563. In-state graduate students taking at least nine hours will pay $8,298 a year, plus any additional mandatory fees.
In another important development, the Board of Regents also approved the University’s proposal to reduce tuition for out-of-state students, including a special reduction for students living within 250 miles of Memphis.
Under the new 250-R program, undergraduate students who graduated from a high school in the 250-mile radius will now pay $12,456 a year (plus mandatory fees), an almost $10,000 reduction from last year’s amount of $21,768.
All students, regardless of classification, who live outside of the 250-mile radius, will also see a reduction in out-of-state tuition. Full-time undergraduate students will pay $3,000 less for an annual cost of $18,768. Full-time graduate students taking nine hours of classes a semester will see their out-of-state fees drop to $17,082 from $19,476. All out-of-state students enrolled at the U of M’s Cecil C. Humphreys School of Law will see their tuition reduced from $37,864 to $23,852. Mandatory fees will be in addition to out-of-state tuition.
All changes take effect this fall and apply to continuing students, as well as new students. New out-of-state fees approved by TBR do not apply to students who live in the border counties of Crittenden County, Ark., or DeSoto, Tate, Tunica and Marshall counties in Mississippi since they already attend the U of M at in-state rates.
All students will pay $307 more in mandatory fees for 2014-15. This increase was approved by the Student Government Association for the purpose of building a new student recreation center. Mandatory fees are designated for special expenses such as debt service, student activities and technology access, and are separate from maintenance fees/tuition.
We estimate that the new plan will have a projected impact of $1.7 million. This will be offset by enrollment growth, organizational realignment, cost savings and other efficiency measures that are already underway.
Metropolitan areas located within the 250-mile zone include Little Rock, St. Louis, Birmingham, Ala., and Jackson, Miss.
We are extremely pleased that TBR has passed these two proposals, both of which will aid our enrollment growth and retention efforts, as well as help our students complete college on time.
For more information, visit www.memphis.edu/nrtuition.