The University System of NH (USNH) is saying that $75M in institutional financial aid will result in little or no increase in costs for NH's neediest students, but there will be increases for the cost of attendance at four USNH institutions: Plymouth State University, Keene State College, Granite State College, and the University of New Hampshire, starting in September.
The cost of attendance for full-time undergraduate students will increase between 3 and 5.8 percent across the USNH institutions. The direct cost of attendance includes tuition, room,
board, and mandatory fees.
"The Fiscal Year [FY] 11 budget includes a 40 percent increase in financial aid grants for New Hampshire students over what was spent in FY09, but overall spending will increase roughly one percent over the current year. We were able to support this substantial increase in financial aid for our neediest students with minimal increases in total expenses because of the major
efforts made across the University System to cut costs and continually build in operating efficiencies," said Board of Trustees' Chair Ed Dupont. "I commend the board, our presidents and our fiscal managers across USNH for their work to align expenses with flat or declining revenues and for their continuing work to help make sure we can maintain a high level of service during this protracted economic downturn."
The financial aid increases are in response to a dramatic increase in the number of students who have become eligible for financial aid because of current economic factors. For example, the number of students eligible for federal Pell Grants jumped by 35 percent in the past year, and USNH will spend more than $75 million for institutionally funded student financial aid next year,
ensuring there will be little or no net increase in costs for the state's neediest students.
Trustees voted to approve a $500 million operating budget for "education and general" purposes in FY11, including financial aid. The budget includes a $100 million appropriation from the State Legislature, equal to the FY09 and FY10 appropriations. When combined with activity from auxiliary (self-supporting) operations and sponsored research and programs, total USNH operating revenue and expenses is expected to exceed $825 million next year. For FY11, the direct costs of attendance (tuition, fees, room, and board) for in-state students will increase by 4.9 percent at UNH, 5.2 percent at Plymouth State University, and 5.8 percent at Keene State College. Tuition for students at Granite State College will increase by $12 per credit (4.0 percent), for a total of $250 per credit hour. The rate of increase at UNH Manchester for resident students is 8.9 percent. The increase is part of an approved phase-in to equalize tuition rates at the Durham and Manchester campuses of UNH. The tuition portion of the increase adopted for the coming academic year was $650 for all students at the three residential institutions to cover the increased costs of operation, including the increase in financial aid and for personnel benefits, plus selected strategic investments that over time will lead to enhanced revenues and additional cost reductions.
Examples include start-up funds for much needed nursing programs at Keene State and Plymouth State, fundraising support at all three residential campuses, and expanded national and international student recruitment efforts at UNH.
Given the higher current cost of attendance for out-of-state students, their cost of attendance percentage increases will range from 3 percent to 4 percent in the coming year. The room, board, and mandatory fee-related expenses have all been approved by the respective student governance groups at each institution.
"We are appreciative of the state funding for the upcoming academic year and well aware of pressures on funding levels for the next biennium. We also understand the net price of our programs is a significant factor in achieving our mission, which in addition to affordability and access, includes being a major source of New Hampshire's economic growth and vitality. Equal dollar increases underscore the commitment to shared responsibility for cost increases, and maintain the substantive subsidy out-of-state students now contribute to reduce in-state tuition rates.
With the growing competitiveness of the market for out-of-state students, it is essential we are focused on maintaining the quality of our programs and delivery at reasonable prices that enable us to attract and retain highly talented students," said USNH Chancellor Ed MacKay.
The chart shows the total cost of attendance for in-state and out-of-state students at each of the four institutions for the 2010-11 academic year:
In-StateTuition, $10,730; Fees, $2,942; Room & Board*, $9,852
Out-of-State$24,700; Fees, $2,942; Room & Board*, $9,852
In-StateTuition, $7,650; Fees, $2,256; Room & Board*, $9,110
Out-of-StateTuition, $15,820; Fees, $2,256; Room & Board*, $9,110
In-StateTuition, $7,650; Fees, $2,490; Room & Board*, $8,670
Out-of-StateTuition, $15,820; Fees, $2,490; Room & Board*, $8,670
In-StateTuition, $260 per credit hour;
Out-of-StateTuition, $275 per credit hour;
*The figure used for meal plans in this line item are for the highest cost plan. Most students opt for a lower-cost basic plan, which costs from $280 to $800 less depending on the institution.