Tuition and fees have been frozen for existing in-state students for the last five years, but it’s time for incoming freshmen to dish up some more cash.
The Ohio State Board of Trustees recently approved a 5.5 percent increase on in-state tuition and mandatory fees for the class of 2021, and out-of-state costs with increase by 5 percent. Under the Ohio State Tuition Guarantee, all increased costs will be frozen for the next four years for the incoming class of students. The increase puts in-state tuition at $10,591 per year, regional campus tuition at $7,553, and out-of-state tuition at $29,695.
This is all in agreement with Ohio’s undergraduate tuition guarantee program that allows public universities in Ohio to increase a four-year guaranteed tuition amount by up to 6 percent above the previous academic year. The program is designed to encourage graduation in four years. While the increased costs will stay the same for the class of 2021, there is no guarantee the next class of freshmen won’t be subject to another tuition increase.
Along with tuition increases, the board also approved a six percent housing increase and a three percent dining increase. These costs will also freeze four years for the incoming freshmen.
While the tuition freeze assures there won’t be any surprise spikes in cost for in-state students over four years, we can’t ignore the fact that incoming freshmen are now required to live on campus for their first two years. Increased dining and housing costs will without-a-doubt bring in some serious cash for the university.
In an attempt to counteract the raise, Ohio State will grow in-state need-based financial aid programs. The Land Grant Opportunity Scholarship program will be expanded to cover full cost of attendance for two students from each Ohio county—doubling the program to now offer 176 scholarships.
The university will also be committing $25 million to the President’s Affordability Grant Program. This program offers scholarships to middle- and lower-income in-state undergraduates and has provided $60 million to these students so far. The university aims to provide $100 million in need-based financial aid by 2012.
Will all the money the university makes through the tuition raise go toward more financial aid opportunities for students or toward eventually buying all of Central Ohio? Only time will tell.