Jan. 30, 2014
GALVESTON, Texas – The Texas A&M University System today voted to establish guaranteed tuition and fee rates for all undergraduate students at Texas A&M University, Texas A&M University – Galveston and the Texas A&M University Health Science Center. Beginning in the fall of 2014, the four-year rates will be locked in for incoming freshmen.
“The Board of Regents challenged the President and Provost to come forward with a plan that would simplify and bring transparency to otherwise multiple, confusing student fees,” said Board Chairman Phil Adams. “Our goal is to make this process as transparent as possible for parents and students while providing ample budget certainty for their four or five year degree plan.”
The program is designed to consolidate more than 7,000 student fees and combine them with a fixed tuition rate. It will create a single, fixed-rate for students from their freshman year through year four or five, depending on their degree plan and major. The program will also provide these institutions the same amount of money to fund academic programs and budget more precisely for future needs.
“Our universities understand that the people of this state expect an efficient use of their resources and we are all committed to provide that to them,” said John Sharp, chancellor of the A&M System. “This program is a great example of our sustained emphasis and dedication to that goal.”
Texas A&M University has historically offered very affordable tuition rates and is less expensive today than many other public, state universities in Texas. A recent study by economist Ray Perryman predicts that inflation will grow by nearly 3.6% over the coming years. In formulating this program, the A&M System Board of Regents has budgeted a much more conservative rate of 2.2%. The difference will be made up by efficiencies within this guaranteed budget process.
“I appreciate the Board taking action to eliminate the confusion regarding the student fee structure and for supporting the guaranteed tuition rate plan,” said Mark Hussey, interim president of Texas A&M. “All of us associated with the academic and financial aspects of the university have worked hard to keep tuition costs as low as possible in keeping with our ongoing commitment to offer a high-quality educational experience for our students. The new guaranteed tuition plan is in line with that commitment, and we believe it will meet the full intention of our state leaders who passed House Bill 29 with the desire to help students and their parents better plan for the cost of their full college education at the undergraduate level.”
Texas A&M Student Body President, Reid Joseph (class of ’14) added, “I believe that the guaranteed tuition and fee program approved by the Board of Regents will effectively allow students and parents to budget for college and provide stability in our unstable economy. In my opinion, it is also in the best interest of Texas A&M as it will allow key leaders to make future decisions based on a fixed amount of revenue.”
About the A&M System
The A&M System is one of the largest systems of higher education in the nation, with a budget of $3.8 billion. Through a statewide network of 11 universities, seven state agencies, two service units and a comprehensive health science center, the A&M System educates more than 125,000 students and makes more than 22 million additional educational contacts through service and outreach programs each year. Externally funded research expenditures exceed $780 million and help drive the state’s economy.
Contact: Steven B. Moore