Tuition model

1,880 views

Published on

Published in: Education, Technology
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,880
On SlideShare
0
From Embeds
0
Number of Embeds
1,153
Actions
Shares
0
Downloads
0
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Tuition model

  1. 1. Take 15, Graduate in 4 Fall 2013 Tuition ModelA New Expectation for Undergraduate Students UNIVERSITY OF TENNESSEE, KNOXVILLE
  2. 2. Graduation in Four Years§  Used to be the “norm”§  Off track§  Must become the “new norm”§  Critical to our Top 25 goal§  Better for our students and our state
  3. 3. It’s Better for Students§  Spend less on their education§  Incur less debt§  Opportunity costs§  Begin their careers earlier
  4. 4. It’s Better for Students“ Students who complete a bachelor’s degree within four years earned more than all other degree recipients ”“A  Profile  of  Non-­‐Completers  in  Tennessee  Higher  EducaCon”—a  study  by  the  Center  for  Business  and  Economic  Research  and  the   Dr.  Bill  Fox   Director  of  the  Center  for  Tennessee  Higher  EducaCon  Commission     Business  and  Economic   Research  
  5. 5. Impact on Student DebtAverage UT student debt: Less than $20,000UT students with NO debt: 52%Average expenses: ~$24,000/yearMost scholarships expire: 4 years
  6. 6. It’s Better for UT§  Improves graduation rate§  Increases state funding through Complete College Tennessee Act§  Increases capacity to serve other students§  Produces more undergraduate degrees/year§  Accelerates progress toward Top 25
  7. 7. It’s Better for TennesseeIncrease the number of college graduates Populaon  with   Bachelors  Degree*   *25+  years  of  age   35%   30%   25%   20%   15%   30%   10%   21%   5%   0%   Nat.  Average   Tennessee  
  8. 8. Degrees Awarded 2010-2011 Academic Year7000   6161  6000   2053  5000   4344  4000   715   3624   3496  3000   1062   2704   1913   831   2001   4108   1734  2000   3629   1433   473   1424   459   1146   2562   449   267   800  1000   129   1873     1583   1528   1275   1157   1017   984   683   0   117   Bachelors   Graduate/Professional  
  9. 9. Graduation Rates 70.0%   63%   60%   60%   61%   61%   58%   4.7%   60.0%   5.3%   5.1%   5.1%   4.7%   4.7%   50.0%   25.8%  Graduaon  Rate  (%)   24.8%   24.2%   24.7%   24.3%   25.2%   40.0%   23.7%   30.0%   20.0%   36.7%   33.7%   35.7%   30.6%   29.4%   30.0%   31.2%   30.6%   10.0%   0.0%   2000   2001   2002   2003   2004   2005   2006   2007   Freshman  Cohort  Year   FOUR-­‐YEAR                                      FIVE-­‐YEAR                                            SIX-­‐YEAR     Source:  OIRA  
  10. 10. Six-Year Graduation Rate Fall 2006 cohort100%   AspiraCon   Target   Peer   95%   90%   85%   80%   75%   70%   65%   60%   55%   50%   Source:  US  News  and  World  Report,  InsCtuConal  Common  Data  Sets;  2012  rankings  given;  data  #10  Washington  and  #28  Michigan  State  are  not  from  the   insCtuConal  Common  Data  Set  (as  of  June  6,  2012)    
  11. 11. Proposed New Tuition Model§  Take 15, graduate in 4§  Students pay for 15 hours§  Implementation in Fall 2013§  Full year to communicate§  No additional cost for 15+ hours§  Increase revenue by ~$6 million in year 1
  12. 12. Funds Will Provide§  Courses and laboratories needed for graduation§  More academic advisors§  UTracK system for monitoring progress toward graduation§  More tutoring and academic support services§  More effective communication with undergraduate students§  Increased communications with prospective students
  13. 13. Funds Will Provide§  Better faculty/student ratio§  More summer school options§  More courses online§  Additional need-based scholarships for Tennesseans§  Performance-based, market-driven compensation
  14. 14. Implementation§  All current students continue under the old model –  No change for current students§  Proposed new model starts fall 2013§  Expectation – limit tuition increases to 3% annually for three years§  After four years, pay the prevailing rate§  15 hours becomes the “new norm”
  15. 15. We Remain aGreat Value
  16. 16. Average Net Price of Tuition  $4,000.00      $2,870.00      $3,040.00      $3,000.00      $2,013.00      $2,000.00      $1,000.00      $-­‐          $(1,000.00)    $(2,000.00)    $(3,000.00)    $(4,000.00)    $(5,000.00)    $(6,000.00)    $(5,711.00)    $(7,000.00)   Second   Third   Fourth   Bolom  QuarCle   QuarCle   QuarCle   QuarCle   ($0  -­‐  $43,065)   ($43,066  -­‐  $87,800)   ($87,801  -­‐   ($143,045  -­‐   $143,044)   $1,430,000)   2011  Fall  Dependent,  In-­‐State  Freshmen  by  Family  Income  

×