Tuition Freeze Proposal at College of DuPage

GLEN ELLYN, Ill., Feb. 20, 2015 /PRNewswire-USNewswire/ -- The College of DuPage Board of Trustees will consider approving a proposal at its Feb. 19 regular meeting to freeze tuition at $140 per credit hour ($104.15 in-district rate plus $35.85 fees) for Fiscal Year 2016.

"Because we have our fiscal house in order and maintain a very strong financial position, we would be able to do this for our students at this time," said College of DuPage Board Chair Erin Birt. "We are in a unique position to keep our tuition reasonable and open up higher education to many students who might otherwise be unable to attend college due to escalating costs. By maintaining our fiscal health and ensuring our programs are relevant to today's job market, we keep our focus where it belongs – on student success."

In September 2014, the COD Board voted to roll back tuition by $4 per credit hour to $140 per credit hour for the spring 2015 semester. The estimated annual cost of this decision was approximately $2.3 million in perpetuity. In addition, in December 2014, the Board voted to freeze the operating property tax levy with the College's calendar year 2013 levy. This decision had an estimated annual cost of $1.3 million to the College's revenues in perpetuity.

College of DuPage President Dr. Robert L. Breuder noted this is the first time in the College's 48-year history that tuition would be reduced for spring term and then subsequently frozen for the entire next fiscal year.

"Recognizing the challenging environment in which we operate, the College has managed its finances in a very conservative manner over the past six years," Dr. Breuder said. "This has been recognized by ratings agencies and has enabled the College to build reserves that have contributed to our stellar Aaa/AAA ratings with Moody's and Standard & Poor's, respectively."

Dr. Breuder said it is vital that the College plan as much as possible for the uncertain future of higher education funding when making fiscal decisions such as freezing the FY 2016 tuition and the FY 2014 tax levy.

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SOURCE College of DuPage