March 11, 2014
The Texas Tech University System Board of Regents during a conference call today (March 11) approved a 3.95 percent net increase in tuition and fees for the 2014-15 academic year. The increase reflects an estimated addition of $182.75 for 15 semester credit hours, or $365.50 for a 30-hour academic year.
Texas Tech President M. Duane Nellis pointed to necessary investment in faculty and instruction and decreasing the student-to-faculty ratio as essential variables in the university’s rise among its peers.
“After holding tuition and fees flat last year, we requested the modest increase to allow us the resources needed to invest in our outstanding faculty and staff and continue the quality education and college experience our students expect,” Nellis said. “As we become more AAU-like, investments in our infrastructure and ensuring we retain our faculty and offer competitive salaries are important.”
It is estimated Texas Tech’s overall tuition and fees of $9,607.60 for the 2014-15 academic year will rank third-lowest out of nine peer institutions across the state, including the University of Texas and Texas A&M University, and third-lowest among Big 12 Conference member institutions.
The Board of Regents also approved an optional fixed tuition-only plan for incoming undergraduate students. This plan will hold designated tuition flat for 12-consecutive semesters (four years). A student enrolled in this option must graduate within the 12-semester period to maintain the initial tuition cost.
Consistently ranked among U.S. News & World Report’s rankings in students graduating with the least average debt, Texas Tech also ranks 11th nationally in least debt average at graduation, according to the February issue of Kiplinger.
“An education at Texas Tech continues to be an affordable option for students and their families,” Nellis added. “Today’s approval by the board will further strengthen the academic experience for our students."