Aaron Nicolaisen | Staff Writer
Buena Vista Board of Trustees agreed to increase student tuition by 2.85 percent from the previous year for the 2016-2017 academic year.
Similar to many colleges across the state, BVU usually increases students’ tuition on an annual basis.
“The aim is to balance the budget while keeping a tuition increase at an absolute minimum for our students,” stated BVU President Fred Moore.
Buena Vista students can expect an increase of 892 dollars on tuition, and 258 dollars more for room and board next fall, compared to the 2015 school year. This increase totals 1,150 dollars.
The annual increase is determined by focusing on sources of revenue and comparing them to the variable expenses that the institution cannot control such as physical plant insurance. Educational value compared to cost is carefully considered in these decisions.
“We believe there is a high value to a BVU education,” Moore said.
A survey was administered to the graduating class of 2015, in which 98 percent of the graduating students participated. The results determined that 98 percent indicated they were accepted into graduate school or employed within six months of graduating from Buena Vista University.
Despite the annual tuition increase, BVU’s generous financial award dollars help ensure the institution maintains an affordable option for students. The percentage of university dollars designated to financial aid compared to tuition is above Iowa’s average and also the nation’s average.
Financial aid awards renew during college as long as the student meets the requirements of the minimum GPA and financial need.
In the past, BVU has raised five million dollars in endowed Storm Lake student scholarships. This scholarship money earns interest allowing the scholarship to last longer and support even more students.
According to Moore, tuition revenue is mostly used to provide attending students with talented faculty and staff insuring students’ investments are returned in the form of a quality education from BV.
Compared to other private college universities in Iowa, BVU’s increase percentage has ranked third lowest allowing the institution to remain competitive in terms of cost.
