UTM students can expect to be forking over more money for classes this year.
Over the summer, the University of Tennessee Board of Trustees approved a six percent in-state tuition increase for students attending UTM for the fall 2012 semester.
The tuition for an in-state undergraduate student will be $3,528, which is an additional $176 more than the previous fall semester’s rate of $3,352.
Seniors who started UTM in 2008 have seen a 35-percent increase in the cost of tuition and fees during their enrollment. Any students at UTM who enrolled in 2006 would be looking at a whopping 52-percent increase in tuition and fees.
Why the enormous increase? According to the UTM Fact Book for 2011-2012 which can be found on the UTM website, tuition and fees covered 48-percent of the total university budget in 2008 while state appropriations covered about 48-percent. Over the past several years, the state has been cutting funding to the universities. Because of that, students have seen an almost continual tuition increase every year.
According to the Office of Finance and Administration, the proposed revenue from tuition and fees is $56,063,897, which is about 64-percent of the total revenue. The proposed revenue from state appropriations is $26,145,717, which is about 32-percent of the total revenue. Other sources will make up about four percent of the total revenue.
“UT Martin is recognized for providing students with a high-quality education for their investment,” said UTM Chancellor Dr. Tom Rakes. “We’re sensitive to raising tuition and fees for students and families during hard economic times, but we pledge to continue adding value to the excellent academic and college experience that UT Martin offers.”
The overall revenues and expenditures for the fiscal year 2012-2013 total $98,710,239. In the expenditures, an estimated $40,313,278 will be for instruction, $10,472,369 for academic support, $9,431,606 for student services, $11,152,103 for operation/maintenance physical plant, and $7,558,322 for scholarships and fellowships.
