The OSU/A&M Board of Regents approved a $1.5 billion operating budget for the Oklahoma State University system for Fiscal Year 2023 during its regularly scheduled meeting.

Tuition and mandatory fees will remain flat for both in-state and out-of-state undergraduate and graduate students at the Stillwater and Tulsa campuses.

“Our land-grant university tradition is reflected in this budget as we prioritize managing the cost of an OSU degree by focusing on affordability and accessibility,” said Dr. Trudy Milner, OSU/A&M Board of Regents chair. “Mindful of the financial challenges faced by students and their families, Dr. Shrum and her leadership team have held the line on tuition and fees. A conservative approach to managing the university’s financial affairs still has room to invest in initiatives and programs to deliver a quality academic and student experience, making Oklahoma State a truly unique place.”

General university state appropriations are up roughly $1.9 million in the FY 2023 budget over the previous year — an increase of 1.92%. The new appropriations will be used to address mandatory cost increases and position OSU’s budget to be adaptable to the strategic planning process. An additional $2.3 million will be directed toward science, technology, engineering and math (STEM) degree programs that are a pipeline for Oklahoma’s Top 100 critical occupations.

“Oklahoma State has once again developed a budget that reflects our commitment to financial stewardship and our students,” said OSU President Kayse Shrum.

According to the latest figures, enrollment across the OSU system is 32,706, led by an enrollment of 22,402 at its Stillwater and Tulsa campuses, including the College of Veterinary Medicine.

Despite the challenges of navigating a pandemic, OSU’s enrollment growth trend continues at both the undergraduate and graduate levels. Over the past two years, general university enrollment has increased by more than 600 students — an increase of 2.7%. Fall 2022 projections indicate this trend is likely to continue, with early indicators pointing to an increase in the size of the freshman class.

According to the most recent ratings reviews from S&P and Fitch, which took place in mid-April, OSU has maintained a strong AA- credit rating.