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University of Missouri President Elson S. Floyd to Explore Fixed Tuition Rates for Students
Continuing with his pledge to protect access and affordability, University of Missouri President Elson S. Floyd announced today that he will begin a process to consider changing how the University charges tuition. Among changes to be examined would be guaranteeing a tuition rate for incoming undergraduate students that would not increase for four years or the approved duration of their program. Undergraduate students already enrolled at the University would have a guaranteed rate for four, three or two years, depending on remaining program duration.
Floyd said that if the University of Missouri ultimately decides to pursue guaranteed tuition rates, it could allow students and their families to budget with greater confidence over a four-year period. Such a plan also could enable the Missouri General Assembly to better determine the impact of state appropriations based on projected tuition levels.
"The fiscal crisis facing the State of Missouri during the past five years has made it difficult to provide stable, predictable tuition rates," President Floyd said today. "We must search for innovative ways to help our students and their families plan financially." Floyd noted that guaranteed tuition also could provide a strong incentive for undergraduate students to graduate in four years as well as increase retention and graduation rates.
As the University of Missouri explores the possibility of guaranteed tuition rates, a series of open forums will be held in late summer and early fall to seek public comment before bringing a final proposal to the Board of Curators before the end of the year. If approved, a new tuition policy could become effective with the summer term, 2006.