Southeast Missouri State University may dip into financial reserves, cut expenses and raise tuition by as much as $8 a credit hour for the spring semester to combat an expected state spending cut, school president Dr. Ken Dobbins said Monday.
The Board of Regents will consider the budget revisions when it meets at 12:30 p.m. Friday at the University Center.
Students, who are in the middle of final exams this week, are taking the possible tuition hike in stride. It would amount to an increase of $120 next semester for students taking 15 credit hours.
"It really isn't going to bother me that much," said Eric McNeal, a sophomore from Boonville, Mo., who is financing his education through student loans.
Some other students said they weren't affected because their parents pay tuition or they are attending school on scholarships.
Faculty and staff on the university's budget review committee voiced support for the tuition increase. But sophomore Ross McFerron of Advance, Mo., and the other two students on the committee would prefer the school steer clear of a tuition increase.
Still, even McFerron views a tuition hike as inevitable. "I don't see an alternative," he said.
School officials don't know how much Gov. Bob Holden might cut spending for Southeast and other public colleges and state agencies, but they expect some withholding to be announced this month.
The issue was a major topic of discussion at a meeting last week of presidents of Missouri's public colleges and universities, including Dobbins.
State officials have estimated that $150 million to $200 million may be cut in total state spending on top of the more than $300 million slashed from the state government budget for the fiscal year that began July 1.
Earlier cuts
Southeast had to cut over $2 million from its current budget this summer. The university delayed hirings, maintenance projects and equipment purchases including replacement of computers.
Dobbins said Southeast may be faced with cutting another 5 percent from its budget or $2.2 million.
Dobbins wants to dip into the university's reserve fund and cut operations and equipment spending before raising tuition.
Under Dobbins' plan, the university could use $800,000 out of its $2.5 million reserve fund, cut operations and equipment spending by $700,000, and raise $700,000 through a one-time incidental-fee hike. School officials haven't disclosed specific cuts.
Reserve concerns
Don Dickerson, president of the Board of Regents, voiced concern about depleting the reserve fund. At best, he said, it would be a one-time move.
"I don't see any way we could dip into the reserves next fall," he said.
School officials say they don't want to balance the budget entirely on the backs of students.
Without tapping the reserve fund and cutting spending, Dobbins said students would be faced with a hike of more than $24 a credit hour.
Southeast officials say they want to keep any fee increase to a minimum, and students would be allowed to pay any tuition hike over the course of the spring semester.
Dobbins and Dickerson said students at Southeast pay relatively low tuition compared with most other public colleges in Missouri.
In-state students paid $1,410 in tuition and general fees for 12 credit hours of undergraduate classes at Southeast this fall. Among Missouri's public four-year schools, only Central Missouri State University at Warrensburg had lower charges, Southeast officials said.
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