The OSU/A&M Board of Regents approved a $1.4 billion operating budget for the Oklahoma State University system for fiscal year 2020 during its Friday meeting on the OSU-Oklahoma City campus.
The Regents commended Oklahoma Gov. Kevin Stitt and the state legislature for increasing state funding for higher education during the recent legislative session. As a result, OSU’s general university campus budget reflects a $3 million increase for the upcoming fiscal year which begins July 1.
There will be no increase in tuition or mandatory fees for OSU’s main campus in Stillwater or branches in Tulsa and Okmulgee because of the increased state support. Increases for the OSU-Oklahoma City campus and the Center for Health Sciences in Tulsa are detailed below.
“We appreciate Gov. Stitt and state leaders for providing additional funding for higher education,” said OSU President Burns Hargis. “This year’s appropriation begins to restore the 25 percent cuts sustained by higher education over the last few years. It also helps us keep tuition and mandatory fees flat. OSU continues to be one of America’s best values in higher education.”
Regents Chairman Calvin Anthony commended Hargis and the OSU administration for their ongoing efforts to find efficiencies to keep costs down for students while maintaining high quality teaching and learning at OSU.
“As a land-grant university, access and affordability are our top priorities,” Anthony said. “We must do everything we can to be sure an OSU education is within the financial reach of aspiring students across this state and beyond. The increase in state support and stewardship of the budget represents our commitment as Oklahoma’s premier land-grant university to building a better, stronger and more prosperous state through education, research and service.”
Four strategic initiatives were highlighted as priorities in the FY2020 budget allocations: competitive faculty salaries, student recruitment and success, classroom utilization and research excellence.
The new appropriated funds will be used to address faculty compensation for FY2020.
“The academic performance of our students is tied to the exceptional talent of our experienced and innovative faculty. Identifying and cultivating a diverse faculty to deliver our extensive instructional programs in a meaningful and impactful manner is a focus at OSU. The increased funding goes a long way in helping us achieve this important goal,” Hargis noted.
Continued emphasis on student success and recruitment are also priorities for the new fiscal year. Since initiating “Finish in Four” in fall 2014, OSU students are getting their degrees quicker, with four-year and five-year graduation rates both at all-time highs. This reduces student costs, lowers student debt and allows students to enter the workforce faster. The new fiscal year includes funding for tuition waivers and scholarship programs, with $3 million in the budget earmarked to help attract high-achieving students, provide access to a college education and retain current students.
Tuition and mandatory fee percentage and dollar increases will be reflected at these OSU A&M System campuses for the fall 2020 academic year (dollar figure is based on 30 credit hours for undergraduate rates and 24 credit hours for graduate students):
Oklahoma residents — 3% ($135 annually)
Non-residents —– 3% ($353 annually)
Center for Health Sciences
Graduate Oklahoma residents —– 8.3% ($523 annually)
Graduate non-residents —– 2.4% ($523 annually)
Professional Oklahoma residents —– 1.7% ($484 annually)
Professional non-residents —– 0.9% ($484 annually)
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