Regents approve budget

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Regents approve budget

Sat, 08/01/2020 - 13:45
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ALVA — Northwestern Oklahoma State University’s budget has been approved by the Regional University System of Oklahoma and Oklahoma State Regents for Higher Education for fiscal year 2021.

With a decrease of $223,378 from state appropriations, Northwestern will operate with a total budget of $26,072,311. This represents a budget reduction of 2.3 percent.

As operational costs increase and state appropriations continue to decrease year after year, tuition and mandatory fees will increase by 3 percent beginning in the fall semester, which equates to $248.75 per credit hour. A tuition and fee increase was required to offset the decrease in state funding and projected enrollment decline due to COVID-19, as well as for the increase in mandatory costs including health insurance and risk management premiums.

Despite the increase in tuition, Northwestern offers many public and private financial aid opportunities for its students. The total cost of attending (tuition, fees, room and board) continue to make Northwestern a best value institution.

“Difficult decisions had to be made this year, and Northwestern knows that raising tuition and fees will affect students and their families,” Dr. Janet Cunningham, university president, said.

“When operational costs continue to rise and state appropriations continue to decrease, we are left with one option.

“Even with the slight increase, Northwestern will continue to provide a quality and affordable education compared to other schools within the state.”

Northwestern continues to support student success by committing 82.4 percent of expenditures targeted for instruction, scholarships, student services and academic support.

The university strives to protect the core academic functions of the institution and maintain the academic and support services required by students.

“This has been an interesting year, to say the least,” Cunningham said. “Northwestern will work together to fill gaps where needed and remain resilient through these unprecedented and challenging times.”