Raritan Valley Community College has approved a new budget that increases tuition $7 per credit.
BRANCHBURG - Raritan Valley Community College's board of trustees Tuesday passed a $53.1 million budget for 2017 that reduces operating costs while raising tuition $7 per credit.
"The new budget carefully balances Raritan Valley Community College's commitment to keeping the cost of a college education within reach for our students, while still providing them with the critical support services and quality instruction they need to succeed and thrive in today's competitive world," said college President Michael J. McDonough. "Before asking students to pay more in tuition, we carefully examined spending and identified $500,000 in cost-savings through employee retirements and attrition."
Tuition at the college has increased every year since the 2000-01 school year, with per credit increases of $4 in 2008 and 2014, $3 in 2009, 2010 and 2011, $15 in 2012, and $8 in 2013 and 2015.
According to the state Department of Higher Education, tuition for a full-time student taking 30 credits at RVCC has increased in that same period from $1,860 per academic year in 2000-01 to $4,110 for the 2015-2016 academic year, an increase of $2,250.
Under the new budget, tuition would be $144 per credit for the fall 2016 semester.
For the average full-time student taking 30 credits during the academic year, tuition would increase by $210, making the cost per academic year $4,320.
For an average part-time student taking 12 credits during the academic year, tuition would increase by $84, making the cost per academic year for a part-time student $3,456.
A number of factors are contributing to the fiscal challenges facing the college, including a projected decrease in enrollment because of a decline in the size of the local high school graduating classes, contractual increases in employee healthcare and other benefits, and level funding from New Jersey and Somerset and Hunterdon counties, according to the college.
"We recognize that the Counties of Somerset and Hunterdon face their own fiscal challenges and appreciate their ongoing support for the College and commitment to keeping college tuition affordable for residents," McDonough said.
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A resolution on the budget stipulates that in the event additional funding is received, it will be applied to the reduction of tuition.
The $53.1 million budget approved by the board represents a 2.2-percent increase over last year and anticipates funding coming from:
- Tuition and fees - 63.1-percentNew Jersey - 11.4-percent
- Somerset and Hunterdon counties - 24.9-percent
- Other (investments, rentals, etc.) - .6-percent
The board also approved a $3.2 million major capital budget and a $750,000 minor capital budget for the upcoming fiscal year. Some of the major components of the capital budget include:
- $600,000 for the Workforce Training Center
- $550,000 for renovating the College's upper walkways and plaza areas
- $450,000 for expanding the Visitors Parking lot
- $400,000 for replacing the main computer server
The budget now goes to the Board of School Estimate for approval at its meeting on May 26, at 10 a.m., at the Hunterdon County Administration Building in Flemington. The Board of School Estimate includes two freeholders from Somerset County, two freeholders from Hunterdon County, and two members of the college trustees board.