2023-24 Undergraduate Tuition and Fee Increase Proposal
The University of Memphis Board of Trustees will consider a proposal to increase undergraduate in-state tuition and mandatory fees at the June 14, 2023, meeting.
Tennessee law (Tennessee Code Annotated § 49-7-1603) requires boards of public universities to give public notice of proposed increases to tuition and mandatory fees charged to in-state undergraduate students at least fifteen (15) days prior to holding a public meeting to adopt the increases. Individuals are permitted to provide comments during the fifteen-day period.
The public comment period will run from May 22 to June 5 at 12:00 p.m. CDT.
Explanation for the Proposed Tuition and Mandatory Fee Increase
Tuition, along with state appropriations, supports 84% of the costs of education and general operations of the University. The 2.86% combined proposed tuition and mandatory fee increase will help support the University in its mission to produce well-rounded successful graduates and cutting-edge research. Along with the increase, the University is focused on optimizing current resources in order to provide a high level of student support while maintaining our goal of providing accessible higher-level education.
Mandatory fees support a variety of student services and operational functions provided by the University. The mandatory fee rates of the University have not been adjusted for the last four years. The proposed increase to the mandatory fees is necessary for these fee-driven enterprises to keep up with the rising costs of services they provide to students.
The revenue will also assist with managing the broad impacts of inflation on the cost of good and services the University procures to support its mission. The University will also be reducing its overall cost by implementing a budget cut of 3%.
Purposes for Which Revenue Derived from the Tuition and Mandatory Fee Increase Will be Used.
As noted above, revenues generated from the increase to tuition will be used to support the University in many of its strategic goals including creating opportunities for student success, strengthening its research enterprise, and recruiting and retaining essential staff. This increase is balanced by an internal effort to optimize internal efficiencies and improve resource allocation, allowing the University to remain accessible and affordable. The revenues generated from the mandatory fee increase will be used by the fee-driven enterprises which provide services to students daily.
The proposed tuition & fee increase will fund inflationary cost increases for software and operations, scholarships, various new academic programs, and student success initiatives.
Efforts to Mitigate the Effect of the Tuition and Mandatory Fee Increase on Students
The following factors are considered when increases in tuition and mandatory fees are proposed:
- Tennessee Higher Education Commission (THEC) binding tuition and mandatory fee increase ranges.
- Level of state support.
- Total cost of attendance (which includes tuition cost, mandatory fees, room and board, books, and other educational expenses)
- Efforts to mitigate the financial effect on students; and
- Other factors deemed appropriate by the University such as enrollment goals, market factors, new facility costs, new program costs, and costs related to general campus operations.
On April 21, 2023 both chambers of the 113th General Assembly passed the 2023-24 General Appropriations Act, granting UofM an increase of $6.3M million for outcomes productivity. The Governor’s Budget allows the operating appropriation received to be used for partially funding salary increases and/or operational expenditures at the discretion of the institution.
The THEC binding tuition and mandatory fee increase for fiscal year 2023-24 is zero to three percent as enacted at the May 11, 2023, THEC meeting.
The University has taken numerous steps over the past several years to contain costs and to keep tuition as low as possible. This resulted in the UofM having the lowest average tuition increase in State of Tennessee of 1.5% over the past 8 years, including a 0% tuition increase in 3 of the past 8 years.
A transcript of all comments will be provided to the UofM Board of Trustees at their meeting on June 14, 2023.