OSU/A&M Board approves FY2014 budget for Oklahoma State University

Friday, June 21, 2013

The OSU/A&M Board of Regents today approved a $1.17 billion FY 2014 budget for Oklahoma State University without a tuition increase for in-state undergraduate students.  

“Each year the decision regarding tuition rates is a difficult one,” said OSU President Burns Hargis. “It was important to our regents and the university to provide some much needed financial relief to as many of our students and families as possible. So I am very pleased to be able to say that in-state undergraduate students will not experience a tuition increase this year.”

This year’s budget includes $241.1 million in state appropriations. 

“We are grateful to our state lawmakers and leaders for seeing the value of higher education and the impact it plays on Oklahoma’s economic and societal development,” Hargis said.  “These appropriations allow OSU to continue its land-grant mission of instruction, research and extension or outreach across the state of Oklahoma.” 

OSU is able to limit the increase in tuition and mandatory fees because of the significant increase in undergraduate enrollment and the generosity of many donors through OSU’s Branding Success campaign, which exceeded its initial $1 billion goal in April, nearly two years ahead of schedule. The campaign to raise funds for scholarships and other needs will continue. 

The university also has implemented many cost savings initiatives including its highly successful energy conservation program that has saved more than $26 million system-wide since 2007.  

Tuition changes are as follows:

• In-state undergraduate students – no change
• Nonresident undergraduate students – 2.9% increase (about $570 more a year)
•  In-state graduate students – 1.8% increase (about $120 more a year)
• Nonresident graduate students – 3% increase (about $576 more a year)

These tuition/mandatory fee increases will pay for several enhancements to the OSU student experience including more than 60 new faculty and graduate assistant positions. The additional faculty are needed in order to provide sufficient course offerings,and keep the student-to-faculty ratio in line with peer institutions as a result of the significant growth in OSU’s student population.

Freshman enrollments have increased 40 percent from 2008 to 2012, with the Fall 2012 freshman class being the largest of any university in state history. In addition, overall enrollment at OSU has been at all-time highs for the past two years with another increase projected this fall.  

 

To see OSU’s FY14 budget presentation go to https://news.okstate.edu/images/documents/fy2014budget.pdf