University of Missouri considers tuition hike amid shortfall
ROLLA, Mo. (AP) – A report says the University of Missouri System may face a budget shortfall of up to $200 million a year by fiscal 2023 without new sources of revenue and additional spending.
The Columbia Daily Tribune reports that the system’s chief financial officer, Ryan Rapp, prepared the report and presented it to the Board of Curators Thursday. The board is considering tuition increases for the fall, particularly if lawmakers approve new increases cuts.
Rapp says the past three years mark the first time since the 1960s that state aid, tuition revenue, and enrollment have all declined.
The board is considering a proposal that would increase tuition for students besides in-state undergraduates by 2.1 percent. Tuition for professional programs would increase between 2.1 and 8 percent.
The board will make a decision after the state budget is passed in May.
Information from: Columbia Daily Tribune