Penn State Intercom......August 8, 2002

Penn College's 2002-03 budget
approved by Board of Directors

Pennsylvania College of Technology's Board of Directors approved an operating budget of $60,274,868 and established tuition rates and related fees for the upcoming 2002-03 academic year.

The operating budget is an increase of slightly more than $4.4 million (7.9 percent) over the current year. However, tuition increases will be held at 3.9 percent for Pennsylvania residents and 4 percent for out-of-state students. This is the lowest tuition increase for Penn College students in the last three years.

Penn College President Davie Jane Gilmour said that, in order to balance the budget, the college cut nearly $425,000 that had been earmarked for instructional equipment. Similar cuts were made from corporate-relations funds, which support events and activities in the community, to the overall budget by $800,000, she said.

In establishing the 2002-03 operating budget, the college projected the regular state appropriation will be $12,288,000 -- a decrease of $259,000 (2 percent) from the current budget. The appropriation for the coming year is expected to be 5 percent less than the amount originally budgeted at the outset of 2001-02; the state reduced the current year's appropriations of all state-related institutions and other state programs during the course of the year.

Students who are Pennsylvania residents will pay $242 per credit hour for tuition -- $9 (or 3.9 percent) more than the current year. Fees assessed on a per-credit-hour basis will increase overall costs another $9 per credit hour. The total tuition and fees for an in-state student carrying a typical 15-credit-hour-per-semester course load for two semesters will be $8,400 ($280 per credit).

The tuition for out-of-state students will increase $12 per credit hour (4 percent) to $315. The additional $9-per-credit-hour increase in fees will bring the total increase for nonresident students to $21 per credit hour. For an out-of-state student carrying a 15-credit-hour-per-semester course load over two semesters, tuition and fees will total $10,590 ($353 per credit hour).

Back