COLUMBIA, Mo. (AP) — Tuition is going up at the University of Missouri’s four campuses in Columbia, St. Louis, Kansas City and Rolla after they took a financial hit because of the coronavirus pandemic.
The University of Missouri Board of Curators approved the 2.3% tuition increase on Thursday. If enrollment remains steady, it will generated about $14.8 million, according to a news release.
Mun Choi, UM system president and interim MU chancellor, said the tuition increase, which is equal to the amount of inflation, is low compared to those instituted at other universities across the county.
“These increases do not fill the gaps in revenue the university has experienced, but they will help us maintain our commitment to teaching excellence,” Choi said in a statement.
As state revenues dried up amid coronvirus shutdowns, higher education funding was slashed in several rounds of cuts. The cuts cost the University of Missouri System $52 million in the current fiscal year, which ends June 30. The four universities also have provided more than $30 million in refunds to students, including refunds for room and board costs when the universities went to remote learning in March.
“We’ve not experienced the type of financial crisis in the modern history of the university,” Choi said.