Updated Thu, Jul 11, 2013 9:46 am
Full-time students at Hocking College will be paying an additional $99 a year in tuition starting next academic year, the college’s governing board decided Tuesday.
The resolution passed unanimously. The college’s board of trustees also adopted 2013's revised budget to continue at least through September, when enrollment figures have been finalized.
The tuition increase is permitted under the state’s biennium budget, which allows two-year institutions to raise tuition by as much as $100 a year.
The change amounts to about a 2.4 percent increase for full-time students.
“The (college’s) increase is consistent with what is occurring at other two-year institutions across the (state) and is lower than increases permitted for four-year institutions,” said Gina Fetty, the college's vice president of financial services, via email.
This year’s allowable increase is half of what was permitted under the previous two-year budget.
Based on last year’s enrollment data, the tuition increase will generate nearly $450,000 for the college. Those funds will be used to “cover the routine costs which increase annually, including student aid, staff compensation, benefits, utilities, supplies and other normal expenses,” Fetty said.
Tuition is the college’s single largest source of revenue, Fetty noted. Tuition combined with State Share of Instruction (SSI) make up approximately 99 percent of the college's operating budget.
The college is expecting a $100,000 increase in SSI funding next fiscal year. In fiscal year 2012, SSI was nearly flat-funded; in FY 2011, it was decreased by around $1.9 million, Fetty said.
The tuition increase combined with the anticipated increase of SSI will generate an additional 1.4 percent of the college’s operating budget for fiscal year 2013, Fetty said.