Nebraska Board of Regents approves tuition hike in $1.1 billion budget

LINCOLN, Neb. (KLKN) – The University of Nebraska Board of Regents passed the 2024-25 budget on Thursday.

Regents voted 7-2 in favor of the $1.1 billion budget.

One of the most controversial parts of the budget was the 3.5% rise in tuition for students in Lincoln, Omaha and Kearney.

The increase equals $135 per semester for a UNL student, $120 for a UNO student and $105 for a UNK student.

SEE ALSO: Tuition hike on the agenda as Nebraska Board of Regents meets

Interim NU President Chris Kabourek said quality comes with a cost and he hopes students will understand.

“I hope that they see that the return on the investment of the value of their degree from the University of Nebraska is second to none compared to anyone across the country,” he said at the meeting.

Bella Hardy, a first-generation student at the University of Nebraska-Lincoln, said she’s worried she’ll need to work extra hours to afford school.

“It will have to maybe take time away from my studies that I could be using and instead continue to have to work more than I want to,” she said. “But I guess we’ll see how that goes.”

A master’s student, Michael Evnen, hopes the increase leads to a better education and funds more financial aid.

“School is expensive already, so I’m not super thrilled about it,” he said. “But I guess I hope that an increase in tuition would mean an increase in the quality of education we are receiving and the infrastructure we are receiving.”

The university said there will be no impact for students who receive the Nebraska Promise scholarship, which provides free tuition.

Another item in the budget is $1.5 million to expand the Presidential Scholars Program to an annual cohort of Nebraska’s 50 best students.

The additional funds will allow the universities to create an application process for students who score a 32 or better on the ACT to compete for a scholarship.

The NU regents also voted to approve $11.8 million in permanent spending cuts.

But the board still needs to figure out what will be cut.

These cuts add to the $30 million in cuts that have been made over the last two years as NU tries to close a budget shortfall.

Interim President Chris Kabourek said university colleges and departments will be expected to reprioritize their spending to absorb rising costs.

Kabourek also said the budget provides a “clean slate” as President-elect Jeffrey Gold transitions into his new role on July 1.