An article posted by the Centre Daily Times last night (October 31, 2023) most certainly gave us a Halloween scare over coverage that Penn State will not be freezing tuition costs over the next year.
Reportedly, the University stated that it “cannot support” the initiative proposed by the State House of Representatives.
Tuition Increase for Students
The University’s Board of Trustees “approved a two-year budget in July, which included a 2% tuition increase this year and next for in-state University Park undergrads and 4% for out-of-state undergrads.” TribLive.com reports that “Penn State is projecting deficits of $44.5 million this fiscal year and $34.1 million in 2024-2025.”
The adjustments in cost adds to an already expensive tuition for a public university. In 2023, the tuition prices at Penn State main campus are $19,672 for instate students, $39,626 for out-of-state students, and $41,136 for out of state students. That does not include the fees for boarding and meals.
Money Allocation
Some examples of upcoming projects that are expected to take up large portions of the University’s budget are renovations to Beaver Stadium ($700 million) and the creation of the Susan Welch Liberal Arts Building ($127 million). Expenses towards large dorm renovations such as the East Halls are also very costly ($450 million).
Penn State justifies these budgets for safety purposes, and in response to donor requests.
Public Backlash
Last April, President Neeli Bendapudi warned of nearly 50 faculty layoffs due to budget constraints. Luckily, there have only been less than 10 faculty members released since then.
The Daily Collegian posted student reactions to the increase in prices. Read here.
Some find it difficult to determine whether budget decisions are made with the goal of benefiting the university as a whole or strategically arranged to enhance the institution’s brand name.
Do you have thoughts on this situation? Drop a comment down below!
The board is expected to have it’s next meeting on November 9th and November 10th.
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