KLAMATH FALLS, Ore. – Oregon Institute of Technology’s tuition costs won’t be as high as an earlier proposal indicated.
On Friday, OIT said the university will reduce its proposed tuition increase to 4.5% instead of the previously announced rate increase of 6.6%. The change is based on adjustments to the Higher Education Coordinating Commission funding model.
“While some regional universities saw significant increases in funding for the 2021-23 biennium as a result of the November 2020 formula revision, Oregon Tech’s funding was reduced, imposing considerable strain in meeting our student needs,” said Oregon Tech President Dr. Nagi Naganathan. “At this point, Oregon Tech feels comfortable saying we can now expect at least $1.2 million in funding to be restored to our fiscal year 2023 budget. This restored funding will directly benefit our students, who are our top priority.”
President Naganathan said the university will pursue opportunities to build alternative revenue streams and achieve more efficient operations.
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