{"674243":{"#nid":"674243","#data":{"type":"news","title":"Board of Regents Approves Funding and Tuition Increases for Fiscal Year 2025","body":[{"value":"\u003Cp\u003EThe University System of Georgia (USG) Board of Regents (BOR) has announced budget approvals and tuition increases for its 26 member institutions. Pending approval by Gov. Brian Kemp, Georgia Tech will receive $527.4 million in total state appropriations \u2013 an increase of nearly 9% \u2014 from last fiscal year. In addition, the BOR approved a systemwide 2.5% in-state tuition increase, a 5% out-of-state tuition increase, and an additional tuition increase of 2% for out-of-country students for the upcoming fiscal year (FY25). \u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003EThe USG adopted these increases to help combat the rising costs of institutional operations, while also prioritizing their commitment to affordability for Georgia\u2019s college students. For Georgia Tech, this will be the first tuition rate increase since the 2019-2020 academic year and the third increase in the past 10 years.\u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003E\u201cInstitutional budgets are under a lot of pressure due to rising costs, and this increase in vital funding sources will enable Georgia Tech to continue to grow and invest in its people in the upcoming fiscal year. It is imperative to boldly align our resources with core institutional priorities and goals to maximize the impact of the increased funding opportunities,\u201d said Shantay N. Bolton, executive vice president for Administration and Finance and chief business officer. \u201cGeorgia Tech\u2019s record-breaking applications and enrollment, return on investment, and economic impact are a testament to what we can achieve with continued support from our partners.\u202fWe are grateful to Gov. Kemp, the General Assembly, and the University System of Georgia for contributing to the continued success of Georgia Tech.\u201d\u202f\u202f\u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Ch5\u003ETuition and Cost of Attendance\u0026nbsp;\u003C\/h5\u003E\r\n\r\n\u003Cp\u003EThe 2.5% in-state tuition and 5% out-of-state tuition increases apply to both undergraduate and graduate programs. For the first time, the BOR also approved a new rate for out-of-country students, representing a 2% increase over out-of-state tuition. \u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003ETuition for online programs will also increase next year. Georgia Tech\u2019s online and professional master\u2019s programs are increasing by 2.5%. The Online Master of Science in Analytics, Computer Science, and Cybersecurity are each increasing by 8% \u2014 though they remain among the country\u2019s most affordable programs. \u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003EThe USG approved fee and rate increases for many of its 26 member institutions. At Georgia Tech, mandatory fees will increase by 2.7% overall. Notably, of the elective fees, the housing deposit fee of $600 has been eliminated in FY25. Housing and food costs will increase by approximately 3% and 5% respectively. \u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003EThe USG also created a new online learning fee for students enrolled in distance learning courses or programs who are not enrolled in on-campus courses or residing on campus. This new fee will be prorated for part-time students. The Online Master of Science in Analytics, Computer Science, and Cybersecurity each have a separate tuition and fee structure approved by the BOR and are not affected by this fee. Visit the \u003Ca href=\u0022https:\/\/www.usg.edu\/fiscal_affairs\/tuition_and_fees\u0022\u003EUSG website\u003C\/a\u003E\u0026nbsp;for a full listing of fee and rate changes. \u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Ch5\u003EState Appropriations\u0026nbsp;\u003C\/h5\u003E\r\n\r\n\u003Cp\u003EThe BOR approved an additional $43 million in state appropriations for FY25. This includes the permanent reinstatement of $10.1 million initially cut from Tech\u2019s FY24 budget. In FY24, state appropriations accounted for 19% of Georgia Tech\u2019s total budget of $2.7 billion. \u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003ENew state appropriations for FY25 will include approximately $17 million to fund the\u202fcost-of-living adjustment\u202ffor full-time eligible employees. The majority of pay adjustments will be completed in July; more information will be provided as it becomes available.\u202f\u202f\u202f\u202f\u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003EOther new allocations include:\u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cul\u003E\r\n\t\u003Cli\u003E$13.5 million in enrollment growth funding.\u0026nbsp;\u003C\/li\u003E\r\n\t\u003Cli\u003E$4 million in adjustments to employee benefits and maintenance and operations.\u0026nbsp;\u003C\/li\u003E\r\n\t\u003Cli\u003E$3.6 million reduction for legislative adjustments.\u0026nbsp;\u0026nbsp;\u0026nbsp;\u003C\/li\u003E\r\n\u003C\/ul\u003E\r\n\r\n\u003Cp\u003EGeorgia Tech\u2019s Institute Budget Planning and Administration will submit the FY25 budget to the BOR for spending approval in advance of their meeting in May.\u0026nbsp;\u0026nbsp;\u003C\/p\u003E\r\n\r\n\u003Cp\u003EThe new fiscal year begins July 1.\u0026nbsp;\u003C\/p\u003E\r\n","summary":"","format":"limited_html"}],"field_subtitle":"","field_summary":[{"value":"\u003Cp\u003EThe University System of Georgia Board of Regents has announced budget approvals and tuition increases for its 26 member institutions.\u003C\/p\u003E\r\n","format":"limited_html"}],"field_summary_sentence":[{"value":"The University System of Georgia Board of Regents has announced budget approvals and tuition increases for its 26 member institutions."}],"uid":"27164","created_gmt":"2024-04-17 14:00:14","changed_gmt":"2024-04-17 14:43:56","author":"Rachael Pocklington","boilerplate_text":"","field_publication":"","field_article_url":"","dateline":{"date":"2024-04-17T00:00:00-04:00","iso_date":"2024-04-17T00:00:00-04:00","tz":"America\/New_York"},"extras":[],"hg_media":{"621932":{"id":"621932","type":"image","title":"USG Board of Regents","body":null,"created":"1558624650","gmt_created":"2019-05-23 15:17:30","changed":"1558624650","gmt_changed":"2019-05-23 15:17:30","alt":"University System of Georgia Board of Regents logo","file":{"fid":"236906","name":"USG BOR logo original.jpeg","image_path":"\/sites\/default\/files\/images\/USG%20BOR%20logo%20original.jpeg","image_full_path":"http:\/\/hg.gatech.edu\/\/sites\/default\/files\/images\/USG%20BOR%20logo%20original.jpeg","mime":"image\/jpeg","size":65945,"path_740":"http:\/\/hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/images\/USG%20BOR%20logo%20original.jpeg?itok=MhmA4N1F"}}},"media_ids":["621932"],"related_links":[{"url":"https:\/\/usg.edu\/news\/release\/university_system_of_georgia_approves_tuition_for_2024_2025_academic_year","title":"University System of Georgia Approves Tuition for 2024-2025 Academic Year"}],"groups":[{"id":"64319","name":"Administration and Finance"},{"id":"220261","name":"Finance and Planning"},{"id":"1214","name":"News Room"}],"categories":[],"keywords":[{"id":"193641","name":"FY budget"},{"id":"193642","name":"state appropriations"},{"id":"3410","name":"tuition"},{"id":"171633","name":"fees"}],"core_research_areas":[],"news_room_topics":[{"id":"71871","name":"Campus and Community"}],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cp\u003ERachael Pocklington\u003Cbr \/\u003E\r\nInstitute Communications\u003C\/p\u003E\r\n","format":"limited_html"}],"email":["rpocklington@gatech.edu"],"slides":[],"orientation":[],"userdata":""}}}