The Iowa Board of Regents approved a proposal that asks for 16 million more dollars in state funding for the 2018-19 academic year. That request includes a promise that 12 million dollars of the increase will go to student financial aid, and allow Iowa State University, the University of Iowa and the University of Northern Iowa to reduce their proposed tuition increases. Board members approved the proposal after hearing from the school presidents about the things they are doing to cut costs and reallocate money. Interim I-S-U president Ben Allen says finding the most efficient use of funds is an ongoing process.
University of Iowa president Bruce Harreld says they can’t generate all the funding needed through cost savings.
The budget request would give five million dollars in new state money to Iowa and Iowa State, and three million to U-N-I. The three schools told the board they need to raise tuition by seven percent in the next year. Iowa and I-S-U want to continue that increase each of the next four years, while U-N-I would gradually lower the increase.
