Regents approve tuition hike; Ted Carter ‘would be shocked’ if NU lost students

LINCOLN, Neb. (KLKN) – At the University of Nebraska Board of Regents meeting on Thursday, President Ted Carter shared his plan for the 2023-24 budget.

The budget includes an average 3.5% tuition increase, the first since the 2020-21 school year.

The regents approved the budget unanimously.

Overall, the tuition increase amounts to about $300 more over the academic year for most Nebraska undergraduates who the pay full sticker price.

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Carter said students will likely save that money through the university’s virtual textbook program.

“We’ve saved over $10 million in doing that initiative just over the last year, and we’re gonna continue to do that,” he said. “So, it sounds like we’re putting an extra burden on students, but we’re always looking for how we can cut costs for our students.”

Carter said he’s not concerned about losing students by raising their tuition.

“I would be shocked,” he said.

Carter said many students who are on scholarships or financial aid will be able to afford the increase.

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Regents also approved the budget for the Nebraska College of Technical Agriculture at the meeting, which included a tuition increase of $5 more per credit hour next year.

Even with the increase in tuition, the University of Nebraska system faces an estimated $58 million budget shortfall by the end of the 2024-25 school year.

NU estimates that number will only grow. Inflation is putting pressure on operating and payroll costs, and new revenue is expected to be muted.