The Ohio State University Board of Trustees unanimously approved the proposed 9 percent tuition increase on Friday.
“Our tuition proposal will allow the university to maintain its commitment to academic quality – even during the current recession – which is critical to our students as well as to Ohio’s longer-term economic vitality and competitiveness,” said Provost Ed Ray, who made the presentation to the board.
With the increase, tuition for a full-time student enrolled before summer quarter 2002 will now be $5,658 for three quarters, an increase of $468. Tuition for a student enrolled between summer quarter 2002 and spring quarter 2003 will be $6,174, an increase of $510. Students who enroll for summer quarter 2003 and beyond will pay $6,474.
Tuition for current non-resident undergraduates at the Columbus campus will increase 6 percent, an additional $188 per quarter, for a total of $15,645 per year. Incoming out-of-state students will pay $16,461 in tuition and general fees next year.
Ray said the tuition increases were based on the state budget Gov. Bob Taft proposed. However, if an alternative form of the state budget is adopted, the tuition increases may change.
“We reserve the right to come back to the board for further discussion,” Ray said.
The board would have to approve any future changes to the tuition increases. The board also approved the purchase of about 26.4 acres of property on Ackerman Road. The price tag for the land and eight buildings is about $16.3 million.
“The buildings are in wonderful shape and the price is below the average of the two appraisals that were completed,” said Jim Nichols, Ohio State treasurer. Two current tenants will continue to lease space on the property from the university for the immediate future.
Board Chairman James Patterson and undergraduate member Joe Shultz participated in their final board meeting on Friday.
Patterson, a 1964 graduate of the College of Food, Agricultural and Environmental Sciences at Ohio State, has been a trustee since 1994. OSU President Karen A. Holbrook presented a ceremonial gavel to Patterson as a token of the university’s appreciation of his service.
“It has truly been my privilege,” Patterson said referring to his opportunity to be chairman.
Shultz has served as the student trustee for the past two years. He is graduating after spring quarter and will attend Cornell University in the fall for graduate school.
Zuheir Sofia will leave his current position as vice chairman to assume the chairman’s seat vacated by Patterson.
Sofia has been a trustee since 1995. He is chairman of Sofia & Company Inc., which provides financial and investment advisory services.
“It will be an honor to serve as chairman of the Board of Trustees of this great institution,” Sofia said. “I am committed to Ohio State’s goal of achieving academic excellence as set forth in the university’s Academic Plan.”
Tami Longaberger, a trustee since 1996, will take over the role of vice chairwoman. She is the president and CEO of The Longaberger Co.
The board’s next meeting will be May 30.
