Ohio State University leaders Wednesday announced they will recommend a 3.2 percent increase in undergraduate tuition and mandatory fees for the 2012-13 academic year. Translated into dollars, in-state Ohio State undergraduates will see an annual increase of $312 for a typical two-semester academic year.
The increase brings the annual cost to $10,036, including $9,615 in tuition and $421 in mandatory fees.
Tuition for Columbus campus undergraduates will technically increase by 3.5 percent, effective fall semester. However, mandatory fees will be frozen for a second consecutive year, so students will see an overall increase of 3.2 percent over current rates.
Graduate and non-resident tuition will also increase by 3.5 percent.
The university Board of Trustees is expected to approve the recommendation at its June 22, 2012 meeting.
“In asking for these increases, we are mindful of the economic burden this places on students and their families,” said Joseph Alutto, executive vice president and provost. “We remain committed to keeping costs affordable for students without sacrificing quality. However, we need these funds to maintain the quality of our academic programs.”
In April, the university announced a $50 million increase in student financial aid over the next four years. The initiatives include new scholarships and grants that will help additional students attend the university beginning this fall.
The new scholarship program, “Eminence Scholars,” provides four-year, full ride scholarships, plus a $3,000 one-time stipend to 31 highly qualified students. The award is being offered for the first time this year to high-achieving high school seniors.
In addition, the university is increasing aid by one third for students eligible for the university’s “Scarlet and Gray” grants. The expansion of the program will allow the university to help additional students, and will boost awards to $4,000. These grants are now available to approximately 7,800 financially qualified incoming freshmen, as well as sophomores, juniors and seniors.
Alutto says Ohio State remains a great value in Ohio and nationally.
“We are able to keep cost increases below the 3.5 percent state cap on tuition and fees, and we are the second-lowest among selective Ohio public universities. Compared to our Big Ten and benchmark institutions – the schools Ohio State measures itself against in order to become one of the nation’s top public universities – Ohio State’s increase is well below their average of 4.7 percent.”
Ohio State is also working to generate new funding streams to invest in student scholarships and to keep tuition affordable. A recently announced 15-year partnership with Huntington Bank provides $25 million from Huntington for academic scholarships and educational programming. In addition, streamlining initiatives this year have enabled us to reallocate $26 million, much of it to student aid. And the university is investigating the leasing of parking assets which would provide additional funding for student scholarships. These efforts are all part of a comprehensive strategy to ensure the university’s financial stability.
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