The Board of Regents approved the first of two readings of proposed tuition increases for all three of Iowa’s public universities. The board is expected to vote on the increases during its June meeting.
At Iowa State, the increase will cost in-state students $290, an increase rate of 2.8%. That is less than the $304, 3.5% increase last academic year.
For out-of-state students, the rate will increase by 4.3% for a total of $1,198, up slightly from the 4.0% increase last year.
Iowa State’s rate increase for undergraduate in-state students is similar to the University of Iowa’s rate – 2.9% – and University of Northern Iowa’s 2.1% increase. University of Iowa’s proposed out-of-state increase is 1.3%, while University of Northern Iowa stands at 2.1%.
According to regent documents, proposed tuition increases will “help address growing financial challenges including inflationary cost increases, recruiting and retaining faculty and staff in national markets, meeting collective bargaining terms, deferred maintenance needs in academic facilities, and student financial aid to provide higher education opportunities to more students.”
In-state graduate students at Iowa State will see a $516, 4.1% increase in tuition, while out-of-state students will see a $1,274, 4.3% increase.
These rates are higher than the proposed graduate rates at Iowa’s other public universities (Iowa in-state 3.4%, out-of-state 1.4%, UNI in-state and out-of-state 2.1%).
The Iowa legislature and Gov. Kim Reynolds approved the Iowa education bill, also known as Senate File 2435, in May, allocating the Iowa university system a 2.5% increase in funding from the previous fiscal year, which brings the total amount of money allocated to Iowa State to $178 million.
According to the board office, inflation affects higher education the same way it impacts other segments of the U.S. economy. The board cited the Bureau of Labor Statistics, stating core inflation for the last 12 months ending in March 2024 was 3.8%, down from inflation levels of 2021 (5.5%), 2022 (5.7%) and 2023 (3.9%).
The Board will hear the second and final reading of the cost increases when it convenes for its meeting in June.
