Costly Challenges
Georgia’s public universities and colleges face the weight of rising costs, prompting officials to increase tuition and fees for the upcoming 2024-2025 academic year.
“We must at times increase tuition to maintain a consistent standard of quality,” said University System Chief Fiscal Officer Tracey Cook.
Universities are experiencing heightened expenses for technology, software, food, and utilities, as well as rising employee salary demands.
Student Impact
In-state undergraduates at Georgia’s typical university will incur tuition and mandatory fees of ,466 next year, a 2.4% increase from the current ,317.
However, students may experience some relief as lottery-funded HOPE Scholarships will cover the increased tuition costs, with students and families responsible only for fees. Despite this, over 35% of Georgia students rely on loans to finance college, with some borrowing an average of ,500.
Tuition Breakdown: A Spectrum of Costs
Tuition and fees range from ,506 at East Georgia State College to a staggering ,058 at Georgia Tech.
Bucking the Fee Trend
While online student fees remain lower than those for in-person students, most universities will increase the charges. Officials cite declining revenues due to fewer students paying these fees, straining funding for student centers and other amenities.
State Funding: A Lifeline Amidst Rising Costs
The state will contribute nearly .4 billion of the system’s billion budget, with lawmakers boosting state funding by 0 million. However, million of that increase is earmarked for 4% salary increases for employees.
Regent Douglas Aldridge emphasized that the budget augmentation will significantly enhance the educational experience for students.
Examining Out-of-State Costs
International students will face a 2% tuition hike beyond the already higher rates they pay compared to out-of-state students. Universities may grant out-of-state fee waivers in certain cases.
Future Considerations
Regents acknowledged the need to continuously assess expenses and pursue greater efficiency to mitigate the burden on students. They also pledged continued support for smaller schools facing declining enrollment challenges.
Data sourced from: foxnews.com
