Dec 2, 2008 4:26 pm US/Central
City Colleges Approves Tuition Increase
CHICAGO (Sun-Times Media Wire) ―
The Board of Trustees of the City Colleges of Chicago on Tuesday approved a tuition increase to address projected budget deficits for fiscal years 2010, 2011 and 2012.
The resolution passed Tuesday calls for a tuition increase of $7 per credit hour in FY 2010 -- beginning in summer of 2009. This will bring the cost to $79 per hour, according to a release from the schools. Tuition increases for FY 2011 and 2012 will be $5 per hour per year.
"In facing City Colleges' fiscal challenges our priority is to protect instructional programs and limit the impact on students," Chairman James Tyree said in the release. "The financial measure passed today is taken as a means of last resort after careful examination of all options for cost-cutting."
The increase is in line with increases at other community colleges in the area and is the first at City Colleges in two years, according to the release.
"We are working to identify more supplemental funding, such as competitive grants and scholarship aid, to offset the impact of the increase on our students," Chancellor Wayne Watson said in the release.
"Community colleges throughout the state are facing similar challenges," he said. "Due to the economic environment, the demand for our services is increasing while our revenue base is declining. However, City Colleges will continue to provide quality higher education."
The long-range financial plan presented at the board meeting includes a forecast that projects revenues to grow 1 to 2 percent in the next three years while expenditures are projected to grow by 4 percent.
(Source: Sun-Times Media Wire © Chicago Sun-Times 2009. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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