The Oklahoma State University-A&M Board of Regents has approved a block tuition plan to keep higher education affordable and accessible to more Oklahomans.
The plan is part of OSU’s “Finish in Four” initiative. A flat rate of $7,442 for tuition and universitywide fees applies to full-time in-state undergraduates. The out-of-state student rate is $20,027. The flat-rate tuition will cover 12 to 18 hours of study, normally four to six classes.
These rates are the same as the cost last year for 15 semester hours, about four classes.
“I am pleased the university will be introducing a block tuition model to our students this fall,” OSU President Burns Hargis said. “This plan is designed to help students graduate quicker, therefore reducing the total cost of a degree from Oklahoma State University.”
Under the “Finish in Four” plan, completing at least 15 hours of applicable coursework each semester creates a path for students to graduate in four years, which benefits students in several ways:
•Eliminates additional semesters of expenses for room, board and other costs;
•Reduces student-loan debt upon graduation;
•Allows entry into the workforce earlier.
With the transition to a block rate model, tuition and mandatory fee rates for undergraduates at OSU-Stillwater and OSU-Tulsa will not increase in 2014-2015, keeping costs among the lowest in the Big 12. Housing and dining rates already are the most affordable in the conference.
The block tuition plan was one of the items approved at the June regents’ meeting. The board also approved the fiscal year 2015 budget of $1.2 billion for the OSU system.
The figure includes state appropriations of $241.1 million, which is the same amount of state allocations as last year.
“Oklahoma State is appreciative the governor and Oklahoma State Legislature continue to recognize the vital role higher education plays in the economic development of our state,” Regents Chair Tucker Link said. “Oklahoma State University continues to work hard to keep a higher education degree affordable and accessible to more Oklahomans.”
This year’s budget will allow the general university to add 31 faculty positions to address student growth. The university is expecting an increase in enrollment on the OSU-Stillwater campus of 400 undergraduate students for the fall 2014 semester, with a projected total enrollment of more than 26,300.
Based on average student spending, the increase in the student population will generate more than $2 million into the economy. In addition, increasing the number of faculty positions on the Stillwater campus has a positive impact on housing sales, accounts for additional jobs held by spouses and increases the revenue spent in Stillwater businesses.
The OSU budget must now receive approval from the Oklahoma State Regents for Higher Education.
For more information on OSU's block tuition plan check out the university bursar's office Web page on Finish in Four, or an OStateTV video on the program.