The 2017-18 budget for Pennsylvania College of Technology includes the lowest percentage increase for tuition in the college’s history.
For the third consecutive year, tuition will rise by the smallest percentage since the institution became an affiliate of Penn State in 1989. When fees are combined with tuition, the total increase is 1.68 percent – another record low for the college.
Approved Thursday by the Penn College Board of Directors, the budget calls for a 1.99-percent increase in tuition for Pennsylvania residents, who constitute 89 percent of the student body. Starting this fall, students enrolled in online degree programs, regardless of their residence, will also pay the in-state tuition rate. Out-of-state residents not enrolled in online degree programs will see a 1.70-percent increase in tuition and fees.
Additionally, there will be no increase in the rates charged for on-campus student housing in 2017-18. Rates for Dining Services’ board plans will rise by 2 percent ($40 per semester for a typical student’s 14-meal plan).
The $152.85 million total budget represents an increase of less than 1 percent (0.69 percent) over 2016-17. The operating budget for 2017-18 is $111.55 million – 1.02 percent higher than 2016-17.
There is no increase budgeted for the college’s state appropriations – $20,074,000 – which represent 18 percent of the operating budget and 13.1 percent of the total budget.
“We have worked diligently to keep tuition as low as possible while maintaining the exceptional quality of our hands-on technology programs,” said President Davie Jane Gilmour. “In the short term, technology-based instruction includes additional costs not associated with a traditional liberal arts education. Long term, the payoff for students comes from the family-sustaining jobs and salaries they can secure with the Penn College degrees they earn.”
Rates for tuition and fees represent the bulk of Penn College’s budget revenues. A student’s annual costs are based on per-credit-hour fees. The number of credits for which a Penn College student is registered determines his or her actual cost.
For Pennsylvania residents, tuition and fees in 2017-18 will be $545 per credit hour, an increase of $9 per credit. A full-time, in-state student enrolled for the typical two 15-credit semesters in 2017-18 will pay $16,350 in tuition and fees, an increase of $270 over 2016-17.
Tuition and fees for out-of-state students will increase $13 per credit – to $776 per credit hour – in 2017-18. A full-time nonresident student enrolled for two 15-credit semesters will pay a total of $23,280 in tuition and fees, an increase of $390 over 2016-17.
To assist students with their college costs, a total of $94.4 million in financial aid from a variety of federal, state and local sources was awarded to 92.5 percent of Penn College students in the most recent year for which data is available.
The college’s revenue-generating auxiliary fund budgets total $28 million for 2017-18. The restricted current fund budget – which includes grants, contracts and restricted donations for which outside entities (such as governmental agencies) direct the use of the money – is $13.3 million.
Salary expenses for employees are increasing 2.7 percent in the budget, due primarily to contractually obligated increments. The college continues to evaluate and manage its staffing levels. Employee benefits are increasing 4.08 percent, driven by the state retirement mandated funding-percentage increase.
The budget again includes gifts to the City of Williamsport ($100,000) and the Williamsport Area School District ($35,000). These voluntary contributions are re-evaluated annually by the college.
For more about Penn College, a national leader in applied technology education, email the Admissions Office or call toll-free 800-367-9222.
For the third consecutive year, tuition will rise by the smallest percentage since the institution became an affiliate of Penn State in 1989. When fees are combined with tuition, the total increase is 1.68 percent – another record low for the college.
Approved Thursday by the Penn College Board of Directors, the budget calls for a 1.99-percent increase in tuition for Pennsylvania residents, who constitute 89 percent of the student body. Starting this fall, students enrolled in online degree programs, regardless of their residence, will also pay the in-state tuition rate. Out-of-state residents not enrolled in online degree programs will see a 1.70-percent increase in tuition and fees.
Additionally, there will be no increase in the rates charged for on-campus student housing in 2017-18. Rates for Dining Services’ board plans will rise by 2 percent ($40 per semester for a typical student’s 14-meal plan).
The $152.85 million total budget represents an increase of less than 1 percent (0.69 percent) over 2016-17. The operating budget for 2017-18 is $111.55 million – 1.02 percent higher than 2016-17.
There is no increase budgeted for the college’s state appropriations – $20,074,000 – which represent 18 percent of the operating budget and 13.1 percent of the total budget.
“We have worked diligently to keep tuition as low as possible while maintaining the exceptional quality of our hands-on technology programs,” said President Davie Jane Gilmour. “In the short term, technology-based instruction includes additional costs not associated with a traditional liberal arts education. Long term, the payoff for students comes from the family-sustaining jobs and salaries they can secure with the Penn College degrees they earn.”
Rates for tuition and fees represent the bulk of Penn College’s budget revenues. A student’s annual costs are based on per-credit-hour fees. The number of credits for which a Penn College student is registered determines his or her actual cost.
For Pennsylvania residents, tuition and fees in 2017-18 will be $545 per credit hour, an increase of $9 per credit. A full-time, in-state student enrolled for the typical two 15-credit semesters in 2017-18 will pay $16,350 in tuition and fees, an increase of $270 over 2016-17.
Tuition and fees for out-of-state students will increase $13 per credit – to $776 per credit hour – in 2017-18. A full-time nonresident student enrolled for two 15-credit semesters will pay a total of $23,280 in tuition and fees, an increase of $390 over 2016-17.
To assist students with their college costs, a total of $94.4 million in financial aid from a variety of federal, state and local sources was awarded to 92.5 percent of Penn College students in the most recent year for which data is available.
The college’s revenue-generating auxiliary fund budgets total $28 million for 2017-18. The restricted current fund budget – which includes grants, contracts and restricted donations for which outside entities (such as governmental agencies) direct the use of the money – is $13.3 million.
Salary expenses for employees are increasing 2.7 percent in the budget, due primarily to contractually obligated increments. The college continues to evaluate and manage its staffing levels. Employee benefits are increasing 4.08 percent, driven by the state retirement mandated funding-percentage increase.
The budget again includes gifts to the City of Williamsport ($100,000) and the Williamsport Area School District ($35,000). These voluntary contributions are re-evaluated annually by the college.
For more about Penn College, a national leader in applied technology education, email the Admissions Office or call toll-free 800-367-9222.