As FAFSA applications lag, CPE approves college tuition costs set by public universities

[vc_row][vc_column][vc_empty_space][vc_column_text animation=”fadeInRight”]The Kentucky Council on Postsecondary Education (CPE) this week approved campus tuition and fee rates for public colleges and universities for the upcoming 2022 school year.  All of Kentucky’s postsecondary institutions stayed under the tuition caps adopted by CPE:

• No more than 3.0 percent over two years, and a maximum increase of no more than 2.0 percent in any one year, for public research and comprehensive universities.
• No more than $5.00 per credit hour over two years, and a maximum increase of no more than $3.00 per credit hour in any one year, for students attending the Kentucky Community and Technical College System.

[/vc_column_text][vc_empty_space][vc_column_text animation=”slideInLeft”]Table 1 summarizes the current base tuition and fee rates, those adopted for the upcoming year, and the amount of increase.[/vc_column_text][vc_empty_space][vc_single_image alignment=”center” image=”15053″ animation=”slideInUp”][vc_empty_space][vc_column_text animation=”slideInLeft”]Overall, the tuition and fee increases appear modest based on historical average annual increases (Table 2).  Even with the substantial funds provided to postsecondary education through several rounds of federal relief, there are continued challenges faced by students and campuses due to the effects of the COVID-19 pandemic.[/vc_column_text][vc_empty_space][vc_column_text animation=”slideInLeft”]Even small tuition increases are sure to impact many students, underscoring the need for students and families to fill out the FAFSA – the Free Application for Federal Student Aid.  The FAFSA is the gateway to financial aid for most students pursuing postsecondary education. This includes federal aid such as student loans and Pell grants, need-based state aid administered by the Kentucky Higher Education Assistance Authority (KHEAA), and a variety of assistance provided directly by postsecondary institutions.  As of June 11^th, Kentucky students’ FAFSA completion rate is 53.1%.  This is above the national average of 49.7%, but still down 11.1% from the same time last year.[/vc_column_text][vc_empty_space][vc_single_image alignment=”center” image=”15060″ animation=”slideInUp”][vc_empty_space][vc_column_text animation=”slideInLeft”]To learn more about overall trends in college affordability, read our series on the Ed Blog Defining College Affordability Matters More Now, Than Ever:[/vc_column_text][/vc_column][/vc_row]