The Arizona Board of Regents approved tuition increases for all three universities at its Dec. 4-5 meeting and, at the same time, increased the amount of tuition revenue that goes toward financial aid.
Regent Ernest Calderón made the motion to tie an increase in tuition revenue that is set aside for need-based financial aid to the tuition increases for the universities. At Northern Arizona University, that reserved tuition revenue, known as the Regents Set Aside, will increase in fall 2009 to 17 percent from 15 percent.
“Regent Calderón’s action reflects his active advocacy for students in particular and for the university as a whole,” said David Bousquet, NAU vice president for Enrollment Management and Student Affairs.
This year, the university earmarked about $10.5 million for its RSA commitment, and is expected to see an additional $1.5 million directed at need-based aid next year as a result of the RSA increase. The RSA is based on undergraduate resident tuition.
At its December meeting, the regents also approved the fiscal year 2008 student financial aid report. The report notes that about 77 percent of the students at the three state universities receive some form of financial aid, but only 1 percent of that aid comes from the state.