The University of Missouri probably will raise tuition rates next year – perhaps by as much as 9 percent. Rates have held steady the past 2 years, but the university board is staring at a 105-million-dollar shortfall in state funding.
State law ties tuition hikes to the Consumer Price Index, which has been about 1-1/4 percent, but the board was told that wouldn’t come close to relieving the situation. The university is expected to ask for a waiver of the CPI limitation.
A 9 percent tuition rate hike would add more than 300 dollars to the cost of taking 15 hours, but there’s talk of applying variable increase at the school’s 4 campuses across Missouri.
The board meets again in late January, after the governor has submitted his budget, at which time the new tuition rates are expected to be adopted.