Murray State University's Board of Regents approved a tuition increase and the establishing of an Honors College during its quarterly meeting today.
Murray State University will raise tuition and fees 3 percent for the next academic year.
President Bob Davies telegraphed the move this week during a student forum and the board approved the proposal today.
The Kentucky Council on Postsecondary Education caps tuition increases. The CPE's recent cap spans two years and cannot exceed 8%.
The tuition and fees hike amounts to $108 per semester for an undergraduate resident student. Non residents will pay an additional $300 per semester.
President Davies also discussed budget priorities for the next academic year that may include a 1% raise for faculty and staff.
The board also voted to establish an Honors College which will expand upon the current honors program.
Associate Provost Renae Duncan says the initiative developed during the university’s strategic planning process.
"We do know that students seek out honors colleges, we do think this is going to make us more competitive when students are looking for a school to attend," said Duncan.
She says the move will also give MSU “a leg up” among peer schools by improving prestige as well as increasing annual enrollment.
“So that we’re bringing in anywhere between 150 and 200 students each year," said Duncan. "It’s going to be growing quite a bit, but of course that’s part of making it a college to not only expand the opportunities for the students but also to expand the number of students that we’re making this possible for."
About 370 undergraduate students make up the current program.
The new college includes a residential component within one of the existing residence halls. The university hopes to begin implementing the new college in July with full implementation by the fall of 2016.
Note: Stay tuned for an interview with Dr. Davies on Monday at 12:15 on Sounds Good and read the subsequent story online later on that day.
In other board meeting news:
The board officially approved MSU's new tobacco policy.
MSU will also have a new Doctor of Arts in English, Pedagogy and Technology.
Regents voted to allow the MSU officials to negotiate another power contract with the Tennessee Valley.
Authortiy. MSU's current interruptible service contract has garnered attention following a power shutoff in 2014.
The board authorized President Davies to enter contract negotiations with men's head basketball coach Steve Prohm upon the end of the season in an effort to retain the successful coach.