University of Nebraska President Ted Carter says his proposed 2022-23 budget calls for a tuition freeze for the second year.
Carter says this will complete a three year, system wide plan to manage the fiscal challenges created by COVID-19 while assisting students for long-term success. He calls this budget is a strong statement of the University of Nebraska’s priorities – starting with affordable access for students and families who are facing the highest rates of inflation in 40 years.
“As any Nebraska family or business knows, every dollar matters. Families are facing hard decisions these days, and we want them to know that we are doing everything possible to make sure a University of Nebraska education remains in reach for every student,” Carter said.
“That’s why we made a commitment across the entire university system to make the spending cuts necessary to freeze tuition across the board for two straight years. Access to higher education matters now more than ever. If we’re going to produce the workforce Nebraska needs and grow our economy for the future, we need to make certain no student is denied the opportunity to pursue a college degree.”
The proposed budget limits year-over year growth to 1.3%, well below the current rate of inflation and less than the growth of state government overall that is more than 6%. Adjusting for inflation, the university’s budget is at the same level it was 10 years ago. That is in part to $48 million in cuts from 2020 to 2023.
The University will complete a three-year plan announced by Carter in 2020. The plan called for back-to back tuition freezes, significant spending reductions across the system, and targeted investments in financial aid, faculty pay, and building maintenance.
Key elements of the proposed 2022-23 budget include:
The second straight across-the-board tuition freeze as part of a broad effort to provide predictability during a challenging time.
With the freeze, all University of Nebraska campuses will continue to be among the best values in their peer groups. Carter thanked Gov. Pete Ricketts and the Legislature for providing a level of state support for the university that allowed for the tuition freeze.
An expanded investment in the Nebraska Promise, under which qualifying Nebraska students with family incomes of $65,000 or less can attend the university tuition-free. More than 7,000 students currently qualify for the Nebraska Promise.
Modest fee increases in order to invest more resources in mental health services across the campuses, a key priority for Carter and the chancellors.
Funding for faculty and staff salary increases, including additional investments to close the gap between UNL and UNMC faculty and their peers, a key pillar of Carter’s system-wide strategic plan.
More than $48 million in cuts since 2020, in order to ensure limited resources are directed to priorities. Carter said the university will look for additional efficiencies as fiscal uncertainties continue locally and nationally.
The Board of Regents will also consider the proposed 2022-23 operating budget for the Nebraska College of Technical Agriculture on June 23.