The Eastern Kentucky University Board of Regents has approved increases in tuition, room and board, and meal plans. It came Thursday as the Board adopted a $379 million budget for the upcoming fiscal year.
EKU President David McFaddin said higher rates and fees are needed to keep up with expenses. “Inevitably you come to these periods where we have to make a decision about continuing to deliver on the level of services the students expect and understanding that we’re seeing massive cost increases across everything we provide for everyone,” said McFaddin.
The regents backed a 2% increase in resident undergrad tuition along with a 2% hike in residence hall rates, and just over a 1% increase overall in meal plan rates. Students have seen no tuition increases in three of the last four years. McFaddin said the next year will find the university investing heavily in certain areas, while pulling back in others.
The approved new budget is larger than the current year-ending spending plan. McFaddin noted part of that comes from fewer expenditures in areas like travel and activities during a pandemic. Still, the EKU president said there will be targeted reductions. “No large scale or even small-scale personnel reductions. No reductions of services, but as we go into this upcoming year and we think about strategic investment areas going forward, it is likely, given where we see revenue gonna be through the re-allocation of existing revenues,” explained McFaddin.
EKU is investing almost $6 million in a free textbook program for students.
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