May 13, 2010
The Texas Tech University System Board of Regents Finance and Administration Committee today (May 13) set tuition and fees for Texas Tech for the fall 2010 and spring 2011 semesters. The full board will vote on the increase tomorrow.
In order to continue to maintain and elevate the quality of its undergraduate and graduate programs, as well as to obtain the university’s goals of growing enrollment and research, regents approved an increase in tuition and fees. The total increase of both tuition and fees for a student taking 15 credit hours is $388.
Despite this increase in tuition and fees, Texas Tech remains one of the best values for a higher education. Since 2003, before the implementation of tuition deregulation, Texas Tech has had one of the lowest percentage of increase in total academic costs of any of the major research universities in the state.
In 2007, the Red Raider Guarantee was implemented. It guarantees free tuition and mandatory fees to first-time freshman students whose family’s adjusted gross income does not exceed $40,000 annually. About 2,200 students have qualified for the program.
The university also created the Graduate on Time program in 2004 to aid students in graduating in four years, thus reducing the overall cost of their degrees.
Texas Tech also has partnered with textbook retailers to form a new initiative in order to allow students to rent textbooks instead of purchasing the books. For most students, this could mean their average textbook expenditure will be cut in half.
Texas Tech is committed to good stewardship of the money it receives, both from students and their families and from the state. To that end, a new budget process is being implemented that focuses on accountability, productivity and efficiencies.