Money, money, money, money
With tuition continually increasing and a slashed UI budget, financial strains will hit your pocketbook harder than ever this year.
Tuition for the 2009-10 academic year is set for $6,824 in tuition and fees for residents; nonresidents will pay $22,198.
There is hope
But with rising costs during the current economic recession, UI Provost Wallace Loh said, officials will continually reach out to students in need.
“We know these are hard times,” he said. “I’m sure there are parents or students who have been laid-off and will be facing financial difficulty.”
In fact, Loh and UI President Sally Mason have both promised to protect your financial aid from budget cuts during the next academic year.
With students combating rising tuition bills — which have roughly doubled for both residents and nonresidents since 2001 — UI Director of Student Financial Aid Mark Warner said some of the funding from the tuition increase will be put toward financial aid. Roughly 80 percent of UI students receive some sort of financial aid from university, state, or federal funding, he said.
To balance out those high costs of tuition, he said, he always encourages all students to fill out the Free Application for Federal Aid, and he noted that financial counselors are always available.
Your student leader promise
New UI Student Government President Mike Currie has said his party would like to try to lock in tuition, ensuring that the rate students pay as freshmen is the same for four years. It hasn’t happened yet, though.
New budget
The state Board of Regents recently met with UI officials to talk about the next fiscal budget. Regent universities could face an $86 million recurring cut for fiscal 2010, but with the American Reinvestment and Recovery Act money appropriated by the state Legislature, the cut would likely be $6 million. Additionally, tuition hikes are likely, and the UI is offering some programs, including early retirement, to off-set budget cuts. Officials haven’t said whether they will lay anyone off.
Knowing your budget
In effort to help students predict what to plan on spending during the academic year the university suggests rough estimates:
• Books and Supplies: $1,090
• Personal Expenses: $2,630
• Transportation: $890
• Total: $4,610
comments powered by Disqus
