Fort Worth, TX November 8, 2013
TCU’s Board of Trustees met today to discuss a wide variety of topics designed to help the University continue moving toward becoming an excellent private university and developing students into leaders who can excel in an increasingly connected world.
The Trustees acknowledged that to do so, ongoing innovations and improvements in people, programs and facilities must be supported. Therefore, they voted to increase tuition by 5.5 percent to $38,510 for undergraduates for the 2014-2015 academic year. Institutional financial aid, which includes need-based aid and new merit-aid scholarships for fall 2014 incoming students, will be increased by 10 percent, or approximately $10 million. Graduate hourly tuition also increases by 5.5 percent equating to $1,340 per semester hour for all graduate programs except the Master of Liberal Arts program, which is $810 per semester hour.
“Our students desire a high quality educational experience, so our investment in people, programs and facilities is vital to delivering that,” said Chancellor Victor J. Boschini, Jr. “This type of experience proves valuable when we examine the number of students who find jobs, go on to graduate school and, ultimately, become leaders in the global community. Acknowledging that all deserve to attain this, but not all have the means, we must continue investing in financial aid to help those who need financial support to obtain a TCU degree.”
The University has strengthened its focus on scholarships and financial aid. This academic year, the University has budgeted $121 million in total financial aid – up some $21 million over last year’s – and about 80 percent of TCU students benefit from financial aid. Last academic year, donors contributed nearly $29 million for scholarships, including funding for the new Internship Scholarship Program, which is helping maximize students’ competitiveness in the job market. This is on top of the $109 million contributed for scholarships during The Campaign for TCU.
Since U.S. News & World Report listed TCU in its 2011 rankings as one of 20 “Up-and-Coming National Universities,” the University’s overall ranking has risen by 17 points to No. 82 in the U.S. News 2014 Best Colleges listings. According to The Washington Post, this is the greatest increase among Texas universities ranked in this premier category.
The tuition increase will provide TCU with the opportunity to continue investing in key areas such as:
TCU continues to enhance and update facilities to provide a total university experience. Now TCU is addressing new opportunities. In February of 2012, the Board of Trustees approved a new phase of Vision in Action, the University’s strategic plan, called the Academy of Tomorrow that will guide TCU for the next six years and beyond. The Board set out three areas of focus in creating the Academy of Tomorrow: enhancing the University’s academic profile and strengthening its reputation, fine-tuning the size and balance of the student body and constructing an optimal campus environment.
Design development began on a vital component of the Academy of Tomorrow — an Intellectual Commons on the east campus intended to be as transformative as the existing Campus Commons has been to the west and is designed to foster innovation and collaboration and to create interdisciplinary connections.
The Trustees also voted to begin raising funds for the $75 million first phase of the project to expand the Neeley School of Business.
Additionally, the Board voted to change the name of the College of Communication to the Bob Schieffer College of Communication (the Schieffer College of Communication). Connecting the Schieffer name to the entire college signals the importance of an innovative and integrated strategy that links all degree areas of the college – journalism, communications studies, strategic communications, and film, television and digital media.
In other business, the Trustees approved the following major capital projects: the first phase of Data Center Improvements, Mary Couts Burnett Library renovation, Multipurpose Facility in Worth Hills, and Daniel-Meyer Coliseum renovation. The Data Center improvements will allow for increased capacity of an uninterruptable power system and the installation of a new generator to provide emergency power to the data center during a power outage. Construction on this $2 million project will begin in December 2013. The Mary Couts Burnett Library project includes a 26,000 square-foot addition and the renovation of a portion of the existing facility. The existing library entrance will be replaced with a new entrance on the east side, accessible from a courtyard shared with Rees-Jones Hall. Given the growth of residential housing and the increased student presence in the Worth Hills area of campus, the University plans a new dining and student life facility in Worth Hills. Designs propose a 39,200 square-foot, two-story facility with multiple dining venues, flexible seating, flexible student meeting spaces, study lounges, a Greek room and office space. Construction on this project will begin in December 2013 and be complete by January 2015. Pending the ability to secure funding for the project, the Trustees voted to begin the renovation of Daniel-Meyer Coliseum. The project will modernize the facility to make it more fan-friendly and will improve the student-athlete experience. Modifications include event level seating, wider concourses, new concessions and restrooms, new locker rooms and team rooms for women’s and men’s basketball programs, coaches’ offices and a space for a Hall of Fame. Construction will commence after the 2013-2014 basketball season and is scheduled to be complete by October 2015.
TCU’s official class numbers for the 2013-14 academic year are 8,640 undergraduates and 1,285 graduate students for a total of 9,925 students. The Board of Trustees will hold its next meeting April 9-11, 2014.