The Florida Board of Governors today approved FIU’s request for a 15 percent differential tuition increase.
“I am disappointed that we have to raise tuition again,” said FIU President Mark B. Rosenberg. “But I am relieved that this increase comes with an additional $6 million in financial aid. Our goal is to continue to maintain access for academically qualified students in our community.”
The tuition increase will enable new investments to improve graduation rates and bolster priority areas such as science, technology, engineering, and math. FIU is already a national leader in STEM education for minorities and the number one producer of Hispanic college graduates in the nation.
The increase will generate $15.6 million in revenue to help offset the $24 million reduction in state funding FIU sustained this year. A typical full-time student taking 30 credit hours will pay an additional $608.70 a year. Even with this increase, FIU’s annual tuition is $3,292 below the national average for public, doctoral-granting universities.
The additional revenue will fund the hiring of 61 new faculty members and 40 other support personnel, including academic advisors. A portion of the funds collected as a result of the increase will be set aside for need-based financial aid. The increase will generate $5.9 million in additional financial aid for approximately 6,000 students.