It doesn’t want to rely on tuition revenue to balance its budget.
SOU plans to change what the school is calling an “outdated financial model.”
The school’s president Dr. Rick Bailey said they want to lead the charge on changing fiscal operations in higher education.
He says the university is focusing on four things: cost management, grants processes, philanthropy and diversifying their revenue streams.
Dr. Bailey said, “SOU will very quickly become the national leader in the transformation that I know is going to be required for public higher education institutions. I’m proud that SOU is leading the charge.”
Dr. Bailey said over the last 30 years, the university has become more reliant on tuition money to balance out declining state funding.
He said they don’t want to continue raising tuition to meet rising costs.