Results of 2014 Legislative Session & Fiscal Year 2015 Operating Budget Presented to the Finance and Facilities Committee Board of Trustees May 21, 2014 Minnesota State Colleges and Universities The Minnesota State Colleges and Universities system is an Equal Opportunity employer and educator.
Presentation outline Commitment to affordability Cost of attendance State support outlook Enrollment trends Student consultation Next steps 2
Commitment to affordability Tuition frozen for second year + Cost of attendance flat past four years + Lowest cost higher education provider in Minnesota + Increase in scholarships = Increased affordability 3
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2013-14 Tuition and Required Fees Anoka-Ramsey CC 5 Pine Technical Least Expensive Lake Superior College Hennepin Technical Saint Paul College Fond du Lac Tribal&CC Inver Hills CC Source: Chronicle of Higher Education, October 23, 2013 University of Minnesota Private colleges and universities; Colleges and Universities Minnesota State Minnesota’s most affordable higher education option Minnesota State Colleges and Universities: Mesabi Range CC St. Cloud T&CC Itasca CC Hibbing CC Vermillion CC Rainy River CC MN State C&TC Century College South Central College Alexandria T&CC Ridgewater College Central Lakes College North Hennepin CC Northwest Technical Riverland CC Northland C&TC Rochester C&TC MN West C&TC MN State -SE Technical Dakota County TC Normandale CC Anoka Technical Metropolitan State St. Cloud State MSU, Mankato Bemidji State Winona State MSU Moorhead College/University Southwest MN State U of M Crookston NW Health Sciences Martin Luther U of M Morris U of M Duluth U of M Rochester Rasmussen College U of M Twin Cities Walden Mpls Business College Capella Crossroads Oak Hills Duluth Business Argosy, Twin Cities Globe MN School of Business North Central Concordia, St. Paul Dunwoody Institute of Production & Recording Crown Art Institutes, MN Bethany Most Expensive Northwestern St. Mary's St. Scholastica Bethel St. Catherine Mpls Art & Design Concordia, Moorhead Augsburg Hamline St. Thomas St. John's St. Benedict Gustavus St. Olaf Macalaster Carleton $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 $50,000
Affordability: Tuition & fees as a percent of median income 40% Tuition & Fees as % of M 37.0% 36.9% 35.5% 35.0% 34.4% 33.2% 30% 29.1% 28.9% 28.0% 27.7% 20% 14.8% 15.0% 14.4% 14.3% 13.6% 12.8% 11.6% 11.2% 10.9% 10.7% 8.0% 8.1% 10% 7.7% 7.7% 7.5% 7.3% 6.8% 6.7% 6.4% 6.4% 5.9% 5.7% 5.7% 5.8% 5.6% 5.4% 4.9% 5.1% 5.1% 4.9% 0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 State Colleges State Universities University of Minnesota Private Colleges and Universities Source: System Office Research – Academic and Student Affairs 6
Affordability: The price of alternative paths to a baccalaureate degree in 2013-2014* SCENARIO YEAR 1 YEAR 2 YEAR 3 YEAR 4 TOTAL A PSEO / Concurrent PSEO / Concurrent MnSCU MnSCU $ 14,688 enrollment enrollment university university B PSEO / Concurrent MnSCU MnSCU MnSCU $ 20,048 enrollment college university university C MnSCU MnSCU MnSCU MnSCU $ 25,408 college college university university D MnSCU MnSCU MnSCU MnSCU $ 29,376 university university university university E MnSCU MnSCU University of University of $ 37,328 college college Minnesota Minnesota F University of University of University of University of $ 53,216 Minnesota Minnesota Minnesota Minnesota G MnSCU MnSCU Private college Private college $ 79,788 college college or university or university H Private college Private college Private college Private college $ 138,136 or university or university or university or university *Average tuition and fees 7
Legislative highlights Supplemental budget bill $17 million in additional funding in FY2015 $34 million added to system’s base for FY2016 -FY2017 biennium Bonding bill - $159.8 million total $ 117.3 million capital projects $ 42.5 million HEAPR projects 8
State support per student FYE improves in constant dollars $6,000 $5,000 $4,766 $4,368 $3,994 $3,980 $4,000 $3,863 $3,245 $3,847 $3,924 $3,079 $3,715 $3,000 $3,261 $3,070 $2,813 $2,787 $2,000 $1,000 $0 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014* FY2015* 9
FYE enrollment returning to pre- recession levels 170,000 157,903 160,000 153,447 150,000 144,609 FYE 143,924 140,000 142,358 135,494 135,839 130,000 132,586 120,000 110,000 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 est est Fiscal Year 10
Additional highlights Revenue fund outlook Student fees Student consultation 11
Next steps Finalize college and university operating budgets finalized Prepare system level all funds operating budget for Board approval Update cost of attendance analysis Board approval of operating budget including tuition and fee structure 12
End deck 13
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