Higher education will soon come at a higher cost for students in Georgia.
The Georgia Board of Regents voted unanimously on April 14 to repeal the four-year-old Guaranteed Tuition Policy that requires a student’s tuition costs to remain the same during the course of an average four-year undergraduate career.
Commonly referred to as “Fixed for Four,” the Guaranteed Tuition Policy was instituted in 2006 by the Board of Regents to “provide better financial planning for students and families,” according to a press release by the University System of Georgia.
The board cites serious statewide budget cuts as the reason for their decision.
“The continuation of the Guaranteed Tuition Plan was contingent upon no budget reductions, and for the 2010 fiscal year, the University System of Georgia’s state appropriations have been reduced by 11.9 percent, or $274 million,” said Erroll B. Davis Jr, chancellor of Georgia’s Board of Regents.
Students who enrolled in fall 2006, 2007 or 2008, will continue to be covered by the Guaranteed Tuition Plan, and will pay the same cost per credit-hour that they have been previously paying since their initial enrollment.
Once students have exhausted the four-year life of their tuition guarantee, they can expect to see a nine to 10 percent increase in the cost of an average semester’s tuition.
Freshmen enrolling for the first time in fall 2009 will also pay the fall 2008 rate, with no guarantee regarding the future cost of their tuition.
Another aspect of the “Fixed for Four” policy, which will no longer be offered to incoming freshmen, directly affects students who plan to be enrolled “full-time.”
In the past, students have been considered to be enrolled “full-time” if they were enrolled in 12 credit hours of course work during any given semester.
Those who chose to enroll in credit hours that exceeded the “full-time” designation were not required to pay any additional tuition costs for the extra credit hours, with a limit placed at 15 hours.
Under the new policy, students who have not exceeded their four-year limit will continue to have the option to take up to three extra credit hours per semester at no additional cost, but incoming freshmen will not be offered the same opportunity.
Another expense resulting from the Board of Regents recent decisions comes in the form of the $75 “Institutional Fee.”
The fee, which was implemented at the beginning of the spring 2009 semester, was originally planned to be a one-time fee that would be used to offset the effects of statewide budget cuts.
However, following the passage of the state legislature’s drastically reduced budget for the 2010 fiscal year, it has become apparent to the Board of Regents that the University System of Georgia will be forced to continue its reliance on funds received directly from its students to help support the state’s educational system.
According to the Board of Regents, the Institutional Fee will continue to be added to the cost of college education statewide until further notice.
The cost of the institutional fee applies to all students, whether they are covered by the Guaranteed Tuition Plan or if they are newly entering freshmen. Also, the fee cannot be paid for by proceeds received from the HOPE scholarship.
With such an emphasis being placed on the economic aspects of college education, Augusta State University is focused on finding the best use of its own drastically reduced budget.
“We have tried to make sure that we have reduced costs in a way that doesn’t affect the quality in the classroom,” said Dan Whitfield, vice president of business operations at Augusta State. “This past year we have seen budget cuts of $3 million, and we will also have additional budget cuts of another $500,000 in the new fiscal year.”
According to Whitfield, funding from donations and private foundations, which constitutes two-thirds of the school’s non-state money, has also been greatly decreased.
“The funds that we receive from the foundations to fund some of our endowed faculty chairs have been impacted by activity in the stock market,” Whitfield said. “The economic downturn is really hitting everybody.”