Story Published:
Apr 25, 2008 at 7:48 AM CDT
Story Updated:
Apr 25, 2008 at 7:48 AM CDT
Bowling Green, Ky. - The Western Kentucky University Board of Regents today approved a 9 percent tuition increase for the 2008-09 school year.
The new tuition rate raises resident undergraduate tuition $284 per semester to $3,492. Nonresident undergraduate tuition will rise from $7,735 to $8,364 per semester.
Faculty Regent Patricia Minter called the tuition increase a “necessary evil” to keep the University from moving backward. She added that some faculty positions have already been lost due to budget reductions.
WKU President Gary Ransdell said the tuition increase was necessary to fund increases in fixed costs and to continue progress in the university’s strategic initiatives, such as scholarships and financial aid, academic quality initiatives, extended campus operations and a $500 per employee salary increase. “We must be prudent not only in recommending a tuition increase, but also in what we use that increase for,” he said.
“It is with a good deal of stress and discomfort that we bring you a 9 percent tuition increase,” Dr. Ransdell told regents. The recommendation will be forwarded to the Council on Postsecondary Education for final approval.
Dr. Ransdell said he would provide regents with a detailed plan for dealing with the total 6 percent budget reduction for 2008-09 when they meet in late June to approve the budget.
Cindy Burnette, director of Student Financial Assistance, told regents that concerns with the student loan industry have some students nervous about paying for their education.
Regulatory changes combined with the recent status of the credit industry have prompted some lenders that traditionally provided funding for the Federal Family and Education Loan (FFEL) Program to examine their benefits offered and their capacity to continue to finance such loans in the future. The Student Loan People, a significant provider of loans in Kentucky, has temporarily suspended making loans to first-time borrowers beginning May 1, 2008.
While this change in the lending industry is unfortunate and untimely, WKU is committed to exploring all lending options in an effort to ensure access for those students and parents in need of loans, Burnette said.
“Aggressive efforts are in place to evaluate the lending capacity of various lenders as well as the borrower benefits being offered,” she said. “We at WKU are confident that an adequate selection of lenders will be identified to accommodate the financial needs of its current and prospective students. We will do all we can to fill the gaps.”
In other business, the board:
- Approved a graduate certificate in teaching English to speakers of other languages.
- Approved the transfer of a lot adjacent to Lost River Cave to the Friends of Lost River Inc.
- Approved a 99-year lease with the Friends of Lost River Inc. for the Lost River Cave and Valley.
- Approved the naming of the Clinical Education Complex for Suzanne Vitale. WKU received an additional $1.5 million gift from the Center for Special
Needs Trust Administration, which requested that the CEC be named for Vitale for her volunteer work.
