Bluefield Daily Telegraph
The Concord University Board of Governors voted Thursday to increase tuition and room and board rates for students while maintaining the school’s financial situation is not as dire as “has been categorized.”
The board voted to raise tuition for students by 5 percent — roughly $286 — and also increased costs for living on campus as well as campus meals by 1.75 percent.
During a meeting of the board in Marsh Hall, Dr. Chuck Becker, vice president for business and finance at the institution, said students were only being charged $0.20 for every $1 the university had cut from its budget.
Becker told the board the university had lost $3.5 million in state funding due to reductions in appropriations for the 2014-2015 fiscal year. As a result, Becker said the university’s finance and facilities committee had made $2.8 million in cuts and the university and was looking to raise additional funds by increasing tuition and room and board costs.
“It’s not nearly as dramatic or draconian as you think,” Becker said. “It seems like a lot of money, but when you see the overall budget it’s not.”
Board vice-chair Lane Bailey, who joined the meeting via phone, said he felt the increase was necessary but should not be done lightly.
“I think the fact that we are raising tuition less than other institutions shouldn’t be something that gives us too much satisfaction,” Bailey said. “Tuition is stagnant or dropping, gifts to the university are dropping, and we are raising tuition. There are huge challenges we face in this vote and others down the road.”