Portland State University Communications released the following press release after today’s special Board of Trustees meeting:
“The Portland State University Board of Trustees voted unanimously Friday to lower the tuition increase in the fall for Oregon students thanks to the additional funding for higher education approved by the Legislature and Gov. Kate Brown.
Annual tuition for full-time resident undergraduates will increase by 5.45 percent rather than 8.9 percent originally proposed. The increase is necessary to avert a budget shortfall due primarily to the rising costs of salaries and benefits. To balance next year’s budget, the PSU Board of Trustees have approved an operating budget that calls for $9 million in cuts and other savings in addition to a tuition increase.
For full-time resident undergraduates, tuition per credit hour will increase by $8.50 from $156 to $164.50, or $383 more in tuition this fall compared to last fall. The cost of tuition varies by program, but the annual base rate for tuition and mandatory fees for full-time resident undergraduates will be $8,783.
“We believe that with this change, we will be able to come back with a balanced budget next year,” said Kevin Reynolds, PSU’s vice president for Finance and Administration.
In final days of session, the Legislature added $70 million to higher education funding beyond the $668 million proposed by the governor. Leaders said the additional funding will help bring down tuition increases at all of the state’s public universities. Gov. Brown signed that legislation earlier this week.
Friday’s vote will save the average residential undergraduate $248 over the academic year compared to the higher tuition rate originally proposed.”
