Tuition and fees at Cameron University to remain unchanged in new Budget
Times are tough. Unemployment is on the rise, and our comfirmed cases of the Coronavirus COVID19 are as well. It good that we can get a bit a good news every now and then!
Cameron University students continue as the primary focus of the university as today the university’s governing board was presented with a 2020-2021 budget that maintains tuition and fees at current rates. In addition to holding tuition and fees at current rates for the third consecutive year, the proposed $43,365,886 operating budget earmarks almost $34 million for student instruction, academic support, student scholarships and tuition waivers, and student services during the upcoming academic year. Cameron’s tuition and mandatory fees structure is also subject to approval by the Oklahoma State Regents for Higher Education.
“Our mission to provide an outstanding learning experience at an exceptional value remains unchanged,” says Dr. John McArthur, President. “Our faculty and staff do an exceptional job to identify and implement cost efficiencies in order to maintain tuition and mandatory fees at their present levels. Additionally, we remain committed to offering expansive financial assistance to students as they work toward degree completion. I am also grateful to the Cameron University Foundation for a gift of $350,000 to support student learning and student opportunities next year.”
The FY21 budget reflects Cameron’s commitment to increasing and improving student success and student learning inside and outside the classroom while continuing to be an engaged partner with common and career technology education, business, industry, civic and government organizations.
Cameron’s administrative expenses are budgeted at 10.1 percent of all expenses, well below the administrative cost guideline of 13 percent for regional universities established by the Oklahoma State Regents for Higher Education. The university continues its commitment to maximizing the portion of the budget allocated to instruction, academic support, student services, and student scholarships and tuition waivers while minimizing the portion of the budget used by administrative departments.
Cameron’s proposed tuition and fee rates for 2020-2021 are 20 percent lower when compared to peer institutions in surrounding states. Additionally, according to The College Board’s “Trends in University Pricing,” the national average for in-state tuition and fees for public, four-year institutions is $10,440 per year. Cameron’s FY21 rate of $6,450 for 30 credit hours is considerably less. The report also indicates that Cameron University is among the 9.9 percent of public and private nonprofit four-year institutions with the lowest published tuition and fee pricing in the nation.
Initiatives that will be supported by the budget are closely aligned with the university’s core values and goals from “Plan 2023: Ambitious Goals for Growth, Innovation and Engagement,” Cameron’s current five-year strategic plan. The actions and initiatives to advance those goals for 2020-2021 include continuing to offer concurrent instruction opportunities in area schools, enhancing student academic support, awarding at least $7.2 million in student financial support in addition to support from CARES Act funding, and preparing to host Oklahoma Research Day in Spring 2021. Additional initiatives include extending university advancement and fundraising efforts, completing construction and renovation projects at both CU campuses, and preparing for a Higher Learning Commission (HLC) reaffirmation of accreditation visit scheduled for March 2021.