Cost of UK rising too quickly
February 7, 2016
The future of UK tuition rates is not promising for prospective students. Gov. Matt Bevin’s proposed cuts of 9 percent for next year will likely be offset by tuition hikes.
State appropriations have gone down steadily since the 2007-08 school year, and tuition has gone up in turn, but not in proportion.
Money from the state for the UK general fund has dropped by about $57 million since 2007, but tuition revenue has increased by about $178 million during the same time period.
This begs the question: Why does UK need to keep raising tuition? In-state students pay about $1,800 more than they did in 2007, and out-of-state students pay about $4,600 more.
“There is no question that as state support has been reduced, those tuition dollars — to be sure — have become even more important,” UK spokesman Jay Blanton wrote in an email to the Kernel. “But there is also no question that we are investing more than at any time in UK’s history in students.”
Students have benefitted from investments that have been possible from tuition revenue, which includes more scholarships and faculty. UK has nearly doubled its investments in institutional scholarships and financial aid since 2011, and the number of faculty has increased by about 12 percent since 2007.
These investments have increased students’ ability to succeed once they arrive at UK. Retention rates are at an all-time high (83 percent), and graduation rates are at the second highest in UK’s history (more than 61 percent).
But even with the investments in students, it is hard to see tuition increases as a good thing. About 53 percent of UK students graduate with no debt, and of students who graduated with debt, the average debt load was about $27,000.
The state is partially responsible for the tuition hikes and subsequent increase in student debt load. If legislators want to invest in the future of Kentucky, they should invest in higher education.
But UK is also responsible. Despite falling state support, students are bearing too much of the burden. The university has more than made up for decreases in state appropriations since 2007 and should refrain from continuous increases.
More students are choosing UK than ever before, about 13 percent more than in 2007, so clearly UK is doing something right. Also, more faculty and more resources for students living on campus are drawing applicants from across the country. Much of that growth can be attributed to tuition revenue.
Higher tuition can be a good thing, and students can benefit from it, but the state has not forced the university’s hand to raise tuition by such dramatic rates. UK has implemented steep tuition increases because it wants to grow, not out of financial necessity.