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Tuition Policy Advisory Committee

Tuition Policy Advisory Committee. Public Forums. Recommendations. November 2007. The Tuition Setting Process. Aug 2007: Constitute TPAC – 4 students, 2 deans, 1 faculty member, 2 administrators. Sept-Nov 2007: Assess critical needs, formulate proposal.

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Tuition Policy Advisory Committee

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  1. Tuition Policy Advisory Committee Public Forums Recommendations November 2007

  2. The Tuition Setting Process Aug 2007: Constitute TPAC – 4 students, 2 deans, 1 faculty member, 2 administrators Sept-Nov 2007: Assess critical needs, formulate proposal Nov 2007: Recommend tuition policy to President, present proposal to campus & solicit feedback Dec 2007: President develops tuition proposal, submits to UT System Mar 2008: Regents consider and vote on campus proposal

  3. Summary of TPAC Recommendations to President • Continue to target a total student population of 49,700 students. • Allow the 2-year Energy Fee to expire as originally planned. • Increase average resident undergraduate total cost by $318/semester (7.8%) fall 2008-09 and $303/semester (6.9%) fall 2009-10. Total Cost for resident graduate students will be increased similarly. • Establish a flat-rate tuition structure for graduate and professional students. • Continue an aggressive UT Grant financial aid set-aside program to provide aid to students of families earning up to $80,000/year.

  4. Incremental Needs and Funding Sources ($ in Millions)

  5. Growth Rate of Funding Sources NOTE: The Higher Education Price Index (HEPI) is 5.0% for 2006 compared to the Consumer Price Index (CPI) of 3.8%.

  6. Diminishing State Support

  7. The Permanent University Fund (PUF) UT System West Texas Lands PUF Lands (minerals & surface rights) 2007 Market Value $14.1B UTIMCO PUF Endowment Fund Investments $ Financial Return 4.75% payout Available University Fund 2/3 UT System 1/3 A&M System 45% 55% UT Austin UT System UT Austin receives about 30% of the total AUF income from the PUF Fy07-08 $142.5M

  8. Private EndowmentsTotal 2007 Value $3.0BPayout of 4.75% equals $110M

  9. Historical Tuition Increases – Full-Time Undergraduate Resident Students In 2003, the Legislature initially proposed a $46/SCH tuition increase or $690 for 15 SCH. Ultimately, the Legislature passed deregulated tuition instead. Of the $779 increase in fall 2004, $690 would have come from a “catch up” by the Legislature.

  10. Financial Aid – Grant Awards per Semester for Continuing Students Annual Family Income Award Award Resident Undergraduate Student 2008-092009-10 $0-$40,000 $1,450 $1,540 $40,001-$60,000 75% of above 75% of above $60,001-$80,000 50% of above 50% of above Resident Independent Student 50% of above 50% of above Graduate Student 50% of above 50% of above

  11. Financial Aid – Grant Awards per Semester for New Students (entering summer 2008 or later) Annual Family Income Award Award Resident Undergraduate Student 2008-092009-10 $0-$40,000 $1,250 $1,450 $40,001-$60,000 75% of above 75% of above $60,001-$80,000 50% of above 50% of above Resident Independent Student 50% of above 50% of above Graduate Student 50% of above 50% of above

  12. How many students currently benefit from the UT Grant program? Fall 2007 Number of Students Annual Family Income Receiving UT Grants $0-$40,000 8,801 $40,001-$60,000 2,147 $60,001-$80,000 1,580 TOTAL 12,528 The above figures only include students who applied for financial assistance. About 56% of students receive some form of financial assistance.

  13. Graduate Flat Rate Tuition Revenue neutral: No matter how many hours a student takes, their tuition bill will not be significantly higher or lower under this plan than it would be in current system Not intended to change behavior: Undergraduate flat rate system provides an incentive for taking more credit hours – Graduate flat rate does not Greater transparency: Student will know ahead of time how much total bill will be, and so will the university More fair for dual degrees: Eliminates redundant fees

  14. National Comparison of Tuition

  15. Questions?A copy of this presentation and other tuition information is available on the TUITION DOLLARS AND SENSE WEBSITE:http://www.utexas.edu/tuition/

  16. Supplemental Materials

  17. Forecast

  18. Resident Undergraduate Tuition per Semester2008-09

  19. Resident Undergraduate Tuition per Semester2009-10

  20. Resident Graduate Tuition per Semester2008-09

  21. Resident Graduate Tuition per Semester2009-10

  22. National Comparison of Tuition

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