As part of a multi-pronged effort to maintain and improve its rank among the best public institutions in the nation, the University of Iowa is requesting a tuition increase for fall 2016. If approved by the Board of Regents, State of Iowa, it will be the first increase for resident undergraduate students at Iowa in three years.
Under the proposal, tuition will increase by $300 for resident undergraduate, graduate, and professional students and $400 for non-resident undergraduate, graduate, and professional students. This is in addition to the $200 increase for resident undergraduates for the fall of 2016 approved by the Board in December 2015. The UI will remain one of the most affordable options for students, with the second lowest undergraduate tuition in the Big Ten—about $3,500 less than the average Big Ten tuition.
“The UI competes with the top universities in North America for faculty and students,” says Provost P. Barry Butler. “Recruiting these outstanding individuals means they bring their talents, passion, and intelligence to Iowa, which in turn creates statewide economic development and growth.”
The university requested a $4.5 million increase in state funding for Fiscal Year 2017, but due to budget constraints, the Iowa General Assembly voted in April to appropriate only $1.3 million. This prompted the Board of Regents to consider approving additional tuition revenue for the three public universities.
“Tuition is just one part of our overall strategy,” says UI President Bruce Harreld. “We’ve been focusing on cutting costs through efficiency and raising additional philanthropic support. The University of Iowa will craft a budget that allows us to continue to provide a world-class education for its students.
The donor fundraising campaign For Iowa, Forever More, raised a record-breaking $1.7 billion from 2013 to 2016. The Transparent, Inclusive Efficiency Review (TIER), a Board of Regents–led efficiency initiative that began implementation one year ago, is projected to save the UI about $2 million.
The UI is known around the world for its balanced commitment to the arts, sciences, and humanities; the UI is home to the country’s No. 1 writing programs in fiction, poetry, and nonfiction and to UI Hospitals and Clinics, ranked as one of “America’s Best Hospitals” for more than 25 years.
In addition, the UI ranks among the top 35 public institutions in the country, and 25 of its graduate programs rank among the top 25 in their fields.
“A student’s investment in their collegiate education will be the second-biggest investment in their life but will produce their largest return on investment,” says Butler. “We continue to work hard so that our students receive every opportunity to graduate in four years because that is the single greatest way to reduce student or family debt.”
Last year, the UI’s four-year graduation rate was a record 53.2 percent due to enhanced efforts such as Living-Learning Communities and the Summer Hawk Tuition Grant program. In 2014, 40 percent of UI graduates had zero debt, and 95 percent of graduates found jobs or were accepted to graduate school.