meals | unsplash by Joel Muniz
meals | unsplash by Joel Muniz
Northwest Missouri State University’s Board of Regents during its regular session Thursday approved rates for the institution’s 2023-24 academic year, including tuition and fees, room and board rates, and supplemental fees that support the University’s continued emphasis on accessibility and affordability.
The rate increases approved by the Board align with the consumer price index (CPI) as well as the University’s focus on managing student expectations and experiences while maintaining the University’s goals of operational excellence.
In-state undergraduate students attending Northwest next fall will see an estimated average net tuition increase of 3.3 percent, or about $336.23, based on 30 credit hours, while out-of-state undergraduate students will see an estimated average net increase of 4 percent, or about $441.28. Tuition rates for graduate level programs vary, based on program and delivery methods.
Northwest meal plans, however, will decrease by 17.2 percent, or $736, in alignment with the University’s new dining contract, which Regents also ratified Thursday.
In addition, room rates will increase an average of 10.5 percent, a range of between $586 and $706, depending on the residence hall a student selects.
Presenting the rates proposal to Regents, Vice President of Finance and Administration Stacy Carrick noted the University’s guiding principles in relation to the rates also include a focus on student affordability and competition in the highly competitive higher education market. Northwest’s net price ranks below the state average of top competitors in Missouri, Iowa, Nebraska and Kansas. Further, 95 percent of first-time, full-time students attending Northwest and 88 percent of undergraduate students receive scholarships or grants that help lower individual tuition costs.
Northwest’s Student Senate supported the proposal and voted to increase designated fees by a total of $10.50 per credit hour. The increase will support incremental operational and inflationary costs for programs including Safe Ride Home, student activities and campus recreation as well as the Campus Master Plan, which addresses aging infrastructure and deferred maintenance.
Carrick added that Northwest achieves competitive pricing through operational efficiencies and cost containment strategies. According to a report released by the Missouri Department of Higher Education and Workforce Development in 2023, Northwest is the most efficient among state universities for state appropriations per student full‐time equivalent and receives the lowest state appropriations per degree and certificate granted.
In other business
Regents approved a software agreement with TouchNet Information Systems Inc. to extend the University’s contract for billing and payment services for an additional five-year term.
Regents also approved their meeting schedule for the 2023-24 academic year.
Incoming Northwest President Dr. Lance Tatum and his wife, Jill, also attended Thursday’s meeting, following a formal introduction to the campus community during a morning conference.
During the Board session, John Moore, who serves as chair of the Board of Regents and was chair of the search committee, thanked individuals who served on the Presidential Search Committee and other employees who participated in the search process.
“Everybody understood the importance of what we were doing for the University that we cared so deeply about,” Moore said and added that “the outcome that we have achieved was worth every minute of time that we put into it.”
The Board of Regents is responsible for sound resource management of the University and determining general, educational and financial policies.
Original source can be found here.
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