The CU Board of Regents voted today to approve two proposals that will impact CU Boulder tuition rates for incoming students beginning in fall 2022. The CU Boulder proposals were among others brought forth by CU’s Colorado Springs, Denver and Anschutz campuses to address projected funding gaps beginning in 2022 and beyond.
The first proposal will simplify CU Boulder’s tuition schedule into four tiers. These tiers will align to areas of study, versus the current practice of aligning tuition solely to the specific school or college, and better reflect differences in the cost of instruction.
|
Tiered Tuition Levels (Beginning Fall 2022) |
Areas of Study (Undergraduate) | Proposed 2022-23 Resident Tuition Rates |
|---|---|---|
| Tier 1 (base tier) | Arts & Humanities; Social Sciences; Program in Exploratory Studies; Education; Music | $11,040 |
| Tier 2 | Communication, Media, Information (CMCI); Environmental Design | $12,816 |
| Tier 3 | Engineering; A&S Natural Sciences | $14,592 |
| Tier 4 | Business | $16,512 |
Due to CU Boulder’s tuition guarantee program, current CU Boulder students and the fall 2021 incoming class will not be impacted by these changes.
Restructuring CU Boulder’s tuition schedule is expected to generate $6.9 million in additional revenue in the first year, which will help address the funding gap, said Carla Ho’a, chief financial officer for CU Boulder. Roughly 16% of the additional revenue, $1.2 million, is earmarked specifically to increase financial aid for students impacted by the tuition changes.
The second proposal will raise resident tuition and mandatory fees by $500 each year for the next three years, starting with the incoming fall 2022 student cohort. Each entering class will still be eligible for CU Boulder’s four-year tuition guarantee.
“The four-year tuition guarantee provides CU Boulder students and families important stability,” said Ho’a. “It was essential for us in making this proposal to ensure that guarantee is available to set clear expectations on the cost of a CU Boulder education for our future students and their families.” CU Boulder has held undergraduate resident tuition and mandatory fees steady for the past three years, despite rising costs, Ho’a said.
According to the presentation delivered to the regents by Todd Saliman, current senior vice president for strategy, government relations and chief financial officer and incoming president for the University of Colorado, university revenues will be outpaced by expenses starting in 2022. The presentation noted that CU Boulder’s funding gap is projected at $33.7 million in fiscal year 2022-2023, growing to a projected $117.4 million by fiscal year 2025-2026 based on expected revenues and expenses.
Revenues in this case are based on forecasted enrollment, inflationary tuition increases and forecasted state funding increases for higher education. Expenses are based on assumed compensation and benefits for employees, insurance premiums, Equal Pay Act implementation and investments in strategic goals.
“These tuition changes allow us to continue to invest in the quality of our programs and in the faculty, staff and students who make them successful,” said Ann Schmiesing, executive vice provost for academic resource management. “We’re approaching this in a way that keeps the tuition increase lower than the increase in inflation, while investing in a better CU Boulder experience for our students.”
Relevant CU Boulder websites and resources will be updated to reflect the new measures, Ho’a said.
