Tuition hikes just business as usual at UNM — 170% increase in 15 years
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Regents at the University of New Mexico Tuesday (April 9) when they voted another increase in tuition – a whopping 13.2 percent hike for some students — but a review of university records shows it’s merely the latest in a series of hikes in the cost of attending the state’s largest institution of higher education.
checked with the information UNM officials send to the and the data show that in the space of 15 years, the cost of in-state tuition and required fees has nearly tripled (up more than 170 percent) and the cost of out-of-state tuition has ballooned 150 percent.
In every one of those 15 years, tuition and fees have gone up.
Here’s the chart we compiled using data from Department of Education, the and the . The figures apply for the University of New Mexico, Main Campus:
Regents at UNM on Tuesday to increases tuition in order to give faculty a 3 percent pay raise, a 1 percent raise for staff along with $1,000 in supplemental pay. It’s the first raise for faculty and staff in four years.
To pay for the raises, the regents voted to change the way it charges tuition. Instead of students paying a flat fee for a total of 12 credit hours and up, the university will increase tuition by 13.2 percent for full-time students who take less than 15 credit hours and a 6.6 percent hike for those who take at least 15 credit hours.
The Board of Regents and UNM President will encourage students to take more credit hours and graduate sooner. In recent years, more students are taking five, six years and even longer to earn their degrees.
“We’re asking a lot of you today,” Frank told the regents Tuesday, “we’re asking a lot of our students today, we believe this is the right time to ask a lot. This is the right moment to try to make a big step.”
Posted under News.
Tags: Institute of Education Sciences, National Center for Education Statistics, New Mexico Watchdog, Robert Frank, University of New Mexico, US Department of Education