The Troy University Board of Trustees approved a five percent increase in tuition for the 2017-18 academic year.
Undergraduate tuition was raised $15 from $301 per credit hour to $316 per credit hour and graduate tuition increased by $20 from $397 to $417 per credit hour.
There will also be a $3 increase in University general fees raising it to $42 per credit hour.
According to Jim Bookout, the senior vice-chancellor for financial affairs, the main reason for the increase in tuition was the lack of increase in funding from state appropriations.
“Troy University receives only 21 percent of its funding from state appropriations and has one of the lowest appropriations per full time equivalent students in the state. With no anticipated increase in state funding for the coming year, a tuition increase was necessary,” said an official press release from the university.
While this increase looks to be steeper than that of other schools in the state, Bookout said Troy does not charge additional tuition differentials that other schools charge.
Online tuition rates will stay the same.
Alabama Governor Kay Ivey opened her first meeting as president of the board of trustees commending Chancellor Jack Hawkins for his leadership at Troy.
Presenting his report to the board, Hawkins said: “We need to start referring to ourselves as what we are: Alabama’s leading online university.”
Hawkins also presented his plans for what he called the next big project for Troy, which is to make Troy a leading institution in the science, technology, engineering, and mathematics (STEM) field and focus on healthcare research.
Hawkins said he envisioned a new center for technology and health sciences, which he projected would cost $26-30 million.
During the meeting, it was revealed that Troy Bank and Trust would help purchase a building in the town square from Regions Bank to set up an entrepreneurship center in partnership with the university.
This center would provide student entrepreneurs with resources and mentors to assist their business ventures.
The board also passed a resolution to implement a change in textbook selection policy, for which the goal is reducing textbook costs for students. The academic affairs committee will look into potential changes to cut costs.
Senator Gerald Dial, the president pro tempore of the board, recognized the men and women basketball teams that emerged victorious in the sun belt championships, respectively, on behalf of the state legislature.
The board passed a resolution to award Troy alumnus and former NFL player DeMarcus Ware an honorary doctorate. Ware will be presenting the commencement address during the fall 2017 commencement ceremony.