KANSAS CITY, Mo. — The University of Missouri System announced Thursday it would raise tuition by 2.3% and begin exploring other changes to its tuition model in 2020.
The increase is projected to generate $14.8 million for the system’s four universities.
UM officials said changes in the tuition model will ideally “provide students and parents with a simpler, more predictable bill with fewer fees and a faster path to completion.”
The rise in price, which the UM System said matches the amount of inflation, comes as it and universities across the United States face financial struggles due to the COVID-19 pandemic.
In addition to refunding $30 million to students for expenses such as room and board fees when remote learning began in March, UM said in a statement the state has withheld $52 million in revenue.
“We’ve not experienced the type of financial crisis in the modern history of the university,” UM System President Mun Choi said. “Unfortunately, we continue to have to make hard decisions that have impacted our employees at every level of the university. The budgets that were approved today will preserve financial sustainability in the short term. But to do better, we’ll have to make structural changes for the future.”
UM maintained that its tuition increase remains among the lowest among universities throughout the country.
