Board of Regents increase tuition


Matthew Rezab/Iowa State Daily

From left, UNI President Bill Ruud, Board of Regents President Bruce Rastetter and ISU President Steven Leath take questions from the media in the Scheman Building during the Board of Regents meeting on June 4. 

Mitch Anderson

The Board of Regents on Wednesday approved tuition increases and appropriation requests, established ISU Global Corporation and sold $30 million in bond awards for Buchanan Hall and other projects on campus.

The Iowa Board of Regents approved a 3 percent tuition increase for Iowa State University and the University of Northern Iowa, but agreed to keep the University of Iowa’s tuition steady for the year.

Both ISU and UNI student government presidents supported a tuition increase for their respective schools, while the University of Iowa student government president Elizabeth Mills attested against it for her university.

Tuition at ISU and UNI will increase $100 for each student in the second semester. ISU and UNI student government presidents said they could agree to small tuition increases because of the dual issues of enrollment growth and stagnant funding from the state. A tuition increase would mean less strain on the institutions.

During the last academic year, Iowa State’s Student Government passed an initiative to recommend small, periodic tuition increases to the Board of Regents so students’ tuition will increase in small increments and not large sums of money at once.

“It makes sense that ISU and UNI would advocate for an increase as their populations are growing,” Mills said. “The University of Iowa does not have those needs. I’d ask that you not increase tuition for the University of Iowa.”

The Board of Regents voted 6-3 to exclude the University of Iowa from the tuition increase and then voted 7-2 to approve the increase in tuition for UNI and Iowa State by 3 percent in the spring.

After Board of Regents President Bruce Rastetter pushed for an additional $4.3 million to be appropriated for the University of Iowa instead of an increase, the board unanimously voted to approve the amendment to the appropriations request, and eventually approved all appropriations, including Iowa State and UNI.

Iowa State received an additional $8.19 million, a 4.2 percent increase in funding. UNI received an additional $7.65 million, a 7.7 percent increase. The University of Iowa received an additional $4.3 million.

The board also unanimously approved the sale of $30 million in bonds for Buchanan Hall and other campus projects at Iowa State, which will be repaid over 20 years. Debt service payments for the bonds will reach about $2 million for the $30 million repayment.

Makayla Tendall contributed to this article.