Hawkeye Community College students will pay 1% more next year in tuition and fees | Education News
WATERLOO — Students will pay more to attend Hawkeye Community College next fall, but it will be the smallest increase in more than a decade.
“This is a very, very modest increase, 1.2%,” Chairman Todd Holcomb told the board on Tuesday. “I propose moving forward with smaller increases in tuition fees. I think it helps us move forward as a college.
Trustees approved a $2.50 increase in tuition and fees per credit hour, bringing the cost to $210 effective July 1. The board also approved a budget of $75.7 million for 2022-23, an increase of $2.46 million from the re-estimated budget for the current fiscal year. Overall property tax revenue is expected to increase by 5.33% under the budget.
Tuition increases by $2 to $204 per credit and there will be a 50 cent increase in activity fees to $6. An in-state student taking 12 credits, a typical full-time load, would pay $2,520 in tuition and fees per term. That’s $30 more than such a student is paying this year.
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Since the fall of 2011, according to Courier records, the lowest previous increase in tuition and fees was 2.72% in 2014-2015. During these years, it increased by 5.64% year-on-year. Current tuition and fees are up 3.23% from last year.
With students taking just under 100,000 credit hours, vice president of administration and finance Dan Gillen said the $2.50 increase is expected to yield “just over $200,000 in tuition and fees” more than this year.
Holcomb said expected growth in other areas like workforce education will contribute to increased expenses that the small tuition increase may not cover. Administrators will also strive to control costs by consolidating or eliminating positions and budget reserve funds can also be used to fill gaps.
Students who travel from out of state to attend Hawkeye will pay $17 more than Iowa residents, bringing their tuition and fees per credit to $227. The difference between in-state and out-of-state tuition has been shrinking in recent years.
“Since I’ve been president, we’ve actually frozen out-of-state tuition,” Holcomb said, noting that he favors equalizing the rates all students pay. “My goal was to get there slowly.”
Budget figures assuming stable enrollment levels show estimates of $18.96 million in tuition and $1.31 million in tuition.
The budget also estimates total state funding at $18.36 million, assuming an increase in general assistance that has yet to be set. Federal assistance of $2.13 million is planned.
A total of $13.02 million in alternative property and utility tax recovery is expected for the college’s 10-county service area in the next fiscal year. That’s $659,172 more than was estimated for the year ending June 30.
The tax rate will increase by just under a penny to about $1.19 per $1,000 of assessed value. Administrator Jay Nardini praised the small increase in the tax rate, calling it “rather good that we can keep it this low”.
The growth in real estate appraisals in the 10-county area and the gradual increase in the tax rate are driving the increase in collections.
Hawkeye Community College proposes 5% increase in property tax collection
However, since the state-determined residential reduction used in calculating tax bills includes a lower percentage of residential ownership for next year, the owner of a home that has not increased in value would see a drop in the Hawkeye portion of the annual tax bill.
For a home worth $100,000 in the current and next tax year, the college’s share of the tax bill would drop from $2.18 to $64.18.
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