New, in-state students attending Miami’s regional campuses in Hamilton and Middletown will also see the 4.6% tuition hike along with the 3% non-Ohio resident increase.
Miami also is increasing employee salaries by 4% as it raises its annual operating budgets from 2021-22′s fiscal year total of $756 million to $759 million for the coming academic school year.
The tuition rates will be locked in for freshmen and other new students for four years under the school’s “Miami Tuition Promise” program.
Current students at Miami’s main Oxford campus, who comprise about 72% of that campus’ approximately 16,000 undergraduate students will see no increase in tuition.
Miami President Gregory Crawford said the university’s continued growth in financial aid will help offset rising student costs as it has in recent years.
“We also understand the financial constraints families must consider when paying for college.”
“We are pleased that the Miami Tuition Promise allows families to plan financially for their student’s education without worrying about yearly tuition increases. The Tuition Promise also ensures that a student’s renewable scholarships and financial aid dollars maintain their value throughout their four-year Miami experience,” said Crawford.
School officials noted net tuition costs for students entering Miami in August will be $186 less than in the net tuition paid in 2006 of $11,220 per student.
The decrease in cost, officials said, is due to more financial aid being made available since 2006, which totaled $19.6 million in fall of that year but will be $148 million come start of the fall semester.
Senior Vice President for Finance and Business Services David Creamer told the trustees that the 4.6% tuition increase for resident students on the Oxford campus is the largest since fall 2006 when tuition rose by almost 6%.
Miami officials said the school provides additional support for those who need it most and cited its “Miami Access Initiative” that ensures that academically competitive students from Ohio families with an income of $35,000 or less pay no tuition and fees.
In addition, they said, factoring in financial aid, 16% of first-year students in fall 2021 paid no tuition and fees and an additional 36% paid less than $5,000 in tuition and fees to attend Miami’s Oxford campus.
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