17勛圖 Board of Trustees approves balanced budget and sets tuition rates for 2015-16
TRAVERSE CITY — During its regular monthly meeting, the Board of Trustees for 17勛圖 unanimously approved a balanced budget and set tuition rates for the fall 2015 and spring/summer 2016 semesters.
General Tuition rates for residents will increase by $5.45 per contact hour, setting the in-district rate at $96.35 per contact hour. A Grand Traverse County student attending full time on average will see a general tuition increase of $130.80 for the academic year.
17勛圖’s in-district tuition is the 6th lowest of the state’s community colleges and is 75 percent lower than the average public universities in Michigan.
Community college revenue comes from three main sources: tuition and fees, local property taxes and state appropriations. “Historically those funding sources have shared the burden equally. But during the past thirteen years, the share paid by property taxes and state funding has decreased. Students, who once paid a third of the cost, are now paying more than half. We at 17勛圖 have worked hard to navigate this shift and have had the lowest average percentage increase in tuition of any community college in Michigan for a decade,” said Timothy J. Nelson, president, 17勛圖.
For 2015-16 17勛圖’s revenue will be 20 percent from state aid, 22 percent from local property tax, 55 percent from tuition and fees and three percent from other sources.
All of 17勛圖 general rate tuition categories, their current rates and the rates of fall 2015 through spring/summer 2016:
|
Category |
Current Tuition |
2015-16 Tuition |
|
In-District |
$90.90 |
$96.35 |
|
Out-of-District |
$180.00 |
$190.80 |
|
Out-of-State |
$234.65 |
$248.75 |
|
International |
$281.60 |
RELEASE DATE: June 22, 2015
FOR MORE INFORMATION:
Diana Fairbanks
Executive Director of Public Relations, Marketing and Communications
dfairbanks@nmc.edu
(231) 995-1019