Tuition costs could increase for non-resident, graduate students in University of Texas system
The University of Texas System Board of Regents will discuss and possibly take action on increasing tuition for non-resident and graduate students, and non-academic mandatory fees during its May meeting on Wednesday.
AUSTIN (KXAN) -- The University of Texas System Board of Regents will discuss and possibly take action on increasing tuition for non-resident and graduate students, and non-academic mandatory fees during its May meeting on Wednesday.
UT Chancellor James Milliken made the recommendation to the board to increase the tuition costs by no more than 5.2% by the start of the 2023-2024 academic year. Chancellor Milliken used the Higher Education Price Index (HEPI) data compiled by Commonfund, an asset management firm, to make his recommendation.
Higher Education Price Index
The HEPI is a tool used to calculate inflation for colleges and universities. It takes into account eight components that make up the operating costs for schools. Those include faculty salaries (35%), clerical (18%), fringe benefits (13%), administration salaries (11%), service employees (8%), utilities (7%), supplies and materials (6%), and miscellaneous services (2%).
This year, Commonfund reported the HEPI rose 5.2% from last year, which is the biggest increase since 2001 when it rose by 6%, according to background information on the Board of Regents' meeting agenda.
Who will this impact?
According to school data, the University of Texas at Austin has 2,123 undergraduate non-resident students and 9,399 graduate students.
Using the university's cost and tuition rates webpage, the tuition cost for a Texas-resident undergraduate student to attend the Cockrell School of Engineering is $12,968. The tuition for a non-resident student at the same school is $44,042 a year.
If the Board of Regents decide to raise the tuition by 5%, then that same non-resident student would pay an extra $2,202 a year.
What about the cost for Texas residents?
A spokesperson for the UT school system said the Board of Regents will not discuss or take action on the tuition costs for Texas-resident students.
Chancellor Milliken signed on to an affordability compact with five other chancellors of Texas university systems in December, saying it would not raise academic prices for in-state students for the next two academic years, according to the meeting agenda. But that only happens if the university system receives state investment. The state legislature has not finalized its budget, so it is unclear if in-state tuitions will stay the same.