Tuition Rates Fact Sheet

FACT SHEET

The following compares earlier tuition proposals and revenue projections for the University of Kentucky:

Proposed Rates

Today: Tuition and mandatory fees would increase by 12.5 percent for 2005-2006, a 24 percent reduction from the original planned increase in December. As a result, an entering freshman would pay about $324 more in the fall semester 2005.
February: Tuition and mandatory fees would have increased by a proposed 14.5 percent.
December: Tuition and mandatory fees would have increased by a proposed 16.4 percent.

Today: UK is proposing a faculty and staff salary increase merit pool of 4 percent. A “Fighting Fund” will be created to retain the best faculty. The total cost of the personnel initiatives would be $14.5 million.
February: A salary increase pool of 3 percent was proposed for faculty and staff. The total cost of these initiatives would have been $11.3 million.

Other recommendations:

UK is proposing to invest about $11 million in student scholarships next year. An additional $500,000 would be set aside for need-based scholarships as a result of the additional dollars for higher education set aside by Gov. Ernie Fletcher and the General Assembly.
UK is proposing to increase its contribution to employee health-care coverage by 9.4 percent – about $2.7 million for state-funded positions.

Revenue Issues

The recently completed budget session resulted in an $81 million increase in general fund dollars for Kentucky higher education.
That number includes about $13 million in undesignated state funds that will go to UK. UK also received $5.4 million in earmarked funds .
Costs for various items used on campus continue to skyrocket. Diesel fuel is up 33 percent; concrete up 30 percent; and plywood up 25 percent. Coal soared from about $50 per ton to $73.75 per ton.

Cutting Costs, Finding Savings on Campus

UK has initiated a staff hiring freeze. That move, along with other cost-saving measures, is expected to generate additional non-recurring and recurring savings.
Since 2001, UK has generated $35.4 million in savings through reorganization efforts and other measures.