FIU Board approves tuition and fees increase

More funds available for financial aid

FIU students will see significant changes in the financing of their education this fall: tuition and fees will increase, more financial aid will be available and Bright Futures will no longer cover all that it used to.

“We have always been an incredible bargain. Our tuition is the lowest in the nation,” said FIU President Modesto A. Maidique. “But Florida, and FIU in particular, can no longer afford to maintain access and deliver a quality education given the budget constraints of the last few years.”

The Florida Legislature is allowing the state’s public universities to increase their tuition rates by up to 15 percent each year until tuition reaches the national average of $3,735 per semester. The move is meant to mitigate the impact of damaging budget shortfalls, which threaten to weaken the academic strength of Florida’s public university system. At the same time, funds are being set aside to assist financially needy students.

At FIU, an undergraduate student who enrolled before July 1, 2007, and is taking a 15-credit course load should expect an approximate tuition increase of $185.68 per semester in academic year 2009-2010. A student who enrolled after July 1, 2007, and is taking a 15-credit course load should see an increase of $287.52 per semester in academic year 2009-10.

Included in the undergraduate increase: a $4.42 per credit hour technology fee, which FIU was authorized to implement in 2007 but did not do so until this year; and modest increases in the student activities fee ($1.08 per credit hour) and the financial aid fee (set at 5 percent of tuition). Graduate students, including law students, will see fee increases as well.

Seventy percent of the revenue generated from the $2.9 million tuition differential increase will be used to fund libraries and hire much-needed additional faculty and academic advisors. The remaining 30 percent will fund an increase in financial aid for those students whose families meet certain income qualifications. In total, students who cannot contribute anything to their education costs will see $700 more in aid this year.

“Sixty-two percent of FIU students currently have some form of financial aid and 30 percent receive federal Pell Grants, which will increase 13 percent next year. We have a tradition of access to higher education and this increase should not discourage good students from pursuing their dream of going to college,” Maidique said. “Certainly, there will be challenges, but we will help students and families find a way to afford a college education.”

One of the most popular scholarship programs of the last few years, Bright Futures, was also modified this year by the Legislature. Bright Futures will no longer cover all tuition and required fees for the top students (or 75 percent for the B students). Instead, it now pays fixed amounts per credit hour:

• The Academic Scholars will receive $126 per credit hour. Previously, Academic Scholars received 100 percent of tuition and required fees.
• The Medallion Scholars will receive $95 per credit hour. Previously, Medallion Scholars received 75 percent of tuition and required fees.

Students will now be responsible for the portion not covered by Bright Futures.

“Our Office of Financial Aid is always available to help students apply for aid and/or identify a variety of funding sources to address challenges presented by these changes,” said Vice President for Enrollment Management Corinne Webb.  “Students are encouraged to explore all grants and loans available to them.”

To apply for financial aid, students must first submit a Free Application for Federal Student Aid (FAFSA) and direct that results be sent to FIU by inserting the university’s school code, #009635, into the application.   The FAFSA application can be obtained at the U.S. Department of Education’s website www.fafsa.ed.gov .