The Mississippi State College Board and Institutions of Higher Learning met Thursday and approved a preliminary request for an increase in tuition and room and board.
According to an IHL Finance Committee meeting report, MSU has requested a 6 percent increase in tuition for both resident and non-resident students for the 2013 and 2014 fiscal years.
If approved, tuition will increase from $5,805 to $6,153 for 2013 and $6,522 for the 2014 academic year for in-state students.
For out-of-state students, tuition will increase from its current $8,865 amount to $9,397 for 2013 and $9,961 for 2014.
The board also said the 2014 figures may be adjusted if there is a decrease in enrollment.
MSU’s School of Veterinary Medicine will also be affected by the increase as MSU requested a 4.1 percent increase for the 2013 fiscal year and a 3.7 percent increase from 2014 to 2016 for in-state students, as well as a 3.3 percent increase in 2013 and 0.8 percent increase in 2014 for out-of-state students.
The current in-state tuition will rise from $17,304 to $18,011 in 2013 and could increase to as much as $20,099 in 2016, while out-of-state tuition will rise from $24,200 to $25,000 in 2013 and $25,200 from 2014 to 2016.
The board will vote at its May 7 meeting and continue discussion on the two-year tuition increase plan.
According to former SA president Rhett Hobart, the board also passed a proposal authorizing the MSU Educational Building Corporation to issue a maximum amount of $82 million of long-terms bonds to fund the Davis Wade Stadium expansion project. Proceeds will also be used to finance issuance costs.
Primary funding source for the contract will come from athletic revenue from football ticket sales.