NU Board of Regents approves 2019-2020 operating budget, includes nearly three percent tuition increase

University of Nebraska President Hank Bounds and the board of regents met for a few hours Friday morning.

The regents approved his proposed 2019-2020 operators budget, including pay increases for professors and tuition increases for students.

The decision affects all four NU affiliated universities.

Before discussions began, retired businessman Bob Van Valkenburg made one final plea for the regents to reconsider.

“We’re approaching a time when the young people of our state that are not born into a family of affluence won’t be able to come to the University of Nebraska, unless they go out and take obscene amounts of student loans,” said Valkenburg.

Valkenburg says back in his college days, the cost to get an undergraduate degree was just $780.

He’s concerned about the direction this country is heading when it comes to pricey student loan costs, forcing some to mortgage their future.

“Just give it some serious thought before you make higher education an impossibility for the young people,” said Valkenburg.

President Hank Bounds said that he doesn’t take tuition hikes lightly, but he has to think about keeping professor’s salaries competitive

NU will also be looking to attract a new president in the near future.

“We’re going to continue to do everything we can to grow enrollment. But we have to recognize that this is the most competitive higher education marketplace in our lifetime. That’s going to be the case for the presidential search, for searching for faculty and for trying to bring more students here,” said Bounds.

This budget is one of Bounds’ last decisions.

He’ll be leaving Nebraska in August.

Board of regent member Paul Kenney was conflicted as well.

He hopes the public can understand that this was a difficult choice.

“I’m not in favor of raising tuition, but it’s not rocket science. You either have to cut programs, cut people, or raise tuition,” said Kenney.

Student regent Emily Johnson is still paying her way through school at UNL, where the cost per year will go up by an additional $210.

She said she understands the tuition increases, and is willing to work hard for her education.

“That’s probably, after taxes, about 24 extra credit hours or three more days I’ll be working this year, which I am willing to work that for my education, and I think it’s kind of a no–brainer for me,” said Johnson.

Johnson also challenged NU leaders to commit to working 3 additional days in their line of work, to try to sympathize with students who will receive the brunt of this decision.

On Friday the regents approved two years of tuition increases, and the total operating budget comes in at $990 million.