Ball State's Board of Trustees approved a tuition and student fee increase – the lowest percentage increase in 41 years.
The increase implements a 1.24 percent and 1.25 percent increase for full-time in-state tuition over the next two years.
In a press release from the university, board Chairman Rick Hall said that the lower increase is a result of "university-wide, cooperative strategic planning efforts that reflect a strong commitment to high academic quality and a pledge to keep education affordable."
RELATED: Public hearing met with no opposition for proposed tuition increases.
So what can students expect to see with the tuition increase?
For in-state students, tuition will be raised from $9,654 to $9,774 in the 2017-18 fiscal year, then to $9,896 in 2018-19. This keeps Ball State below both Indiana and Purdue University, and ranks as the third-lowest in-state tuition among Mid-American Conference schools.
But the percentage increases range depending on the student. For example, both in-state and out-of-state graduate and out-of-state undergraduate students will see different percentage increases in their tuition bill.
For out-of-state students tuition will be raised by more than $1,000 over the next two years. The $25,428 tuition total this past academic year increases to $25,942 in 2017-18 and $26,468 in 2018-19, or 2.02 and 2.03 percent, respectively.
The trustees approved a 1.86 percent increase for in-state graduate students and a 2.22 percent increase for out-of-state graduate students as well. The increases bring in-state graduate tuition to $9,216 and out-of-state tuition to $21,834 for the 2017-18 year.
One fee will remain the same for all full-time students, however – mandatory fees (recreation, health center and technology fees) will remain at $662 a year across the board.
While the face-value of tuition increases, so will the university's financial aid budget.
Next year, as a result of increases in four-year completion and retention rate among students, the trustees approved a 12.18 percent increase for the University scholarship programs. This give Ball State $4.2 million to use for financial aid in the upcoming year.
"Assistance comes in several forms," Ball State President Geoffrey S. Mearns said in the press release. "Additional financial aid is the tool to help some students best leverage their Ball State experience. We will continue to seek ways to innovate on all fronts, and I am inspired by our faculty and staff dedicated to our students' success."
In 2012, on-time (4-year) graduation rates were at 47.6 percent and from 2013-2015, student retention rates have been above 81 percent.
Other items the trustees approved included a 2 percent increase in the salary funding pool, giving $180,000 to be used specifically for promotions.
Overall, the university is allocating about $4.7 million for salary and salary-related benefit increases in 2017-18.
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