Oklahoma State University to raise tuition by $417-plus

The Oklahoma State University Board of Regents wants to increase tuition for in-state students by 5 percent – which averages $417 more a semester.

For the upcoming fall 2018 academic year, OSU-Stillwater tuition and mandatory fees will increase as follows (the annual dollar figure is based on 30 credit hours for undergraduate rates and 24 credit hours for graduate students):

Undergraduate – Tuition and Mandatory Fees

Oklahoma residents – 5 percent ($417 annually)

Non-residents – 5.9 percent ($1,332 annually)

Graduate — Tuition and Mandatory Fees

Oklahoma residents – 6 percent ($462 annually)

Non-residents – 3.2 percent ($715 annually)

The Regents approved the fiscal year 2018 budget for the Oklahoma State University system during its regularly scheduled meeting June 16 on the OSU Center for Health Sciences campus.

This year’s $1.3 billion budget includes state funds of $183.7 million, a 6.08 percent or $11.9 million drop from FY2017. Beginning FY2015, the amount of state funds to the OSU system has decreased by more than $57.4 million or 23.8 percent.

State appropriations now account for 14 percent of OSU’s overall agency-wide budget, down from 20 percent three years ago. And, state appropriations now account for 25 percent of OSU’s total education and general budget, down from 34 percent three years ago.

“Our board and administrators are committed to keeping the cost of a college education at all our institutions affordable,” said OSU/A&M Board of Regents Chair Lou Watkins.

The OSU system budget will include tuition and mandatory fee increases for the nearly 35,000 students at its five branch campuses: OSU-Stillwater/Tulsa, OSU Center for Health Sciences, OSU-Oklahoma City and OSU Institute of Technology.  “We realize the financial burden a tuition increase puts on our students and their families,” said OSU President Burns Hargis. “We have increased scholarship dollars and offer other options to assist our students as we respond to our state’s economic reality. Even with these increases, Oklahoma State remains one of the best values in the nation.”

OSU tuition and mandatory fees are among the lowest in the Big 12 and below the national average for land-grant schools. OSU cost of attendance also is among the most affordable. In addition, only half of OSU graduates have student loan debt and the average debt amount is $24,095, lower than the average nationally.

Since 2007, OSU’s energy management program has saved more than $44.9 million. The OSU system also has reduced costs by changing its purchasing card program, adding a self-insured health plan and outsourcing some services.  OSU’s budget must now receive approval from the Oklahoma State Regents for Higher Education.