College of DuPage Board Approves $1 Tuition Increase for Fall 2019
By Jennifer Duda
Focused on addressing various initiatives in support of student success while maintaining a healthy fund reserve, the College of DuPage Board of Trustees authorized a $1 tuition increase during its regular March 21 meeting. The increase, effective for the fall 2019 semester, sets tuition and fees at $137 per credit hour for in-district residents, $324 for out-of-district students, and $394 for out-of-state students.
The $1 increase is in line with a similar increase last fall term, which came after the COD Board decreased the tuition rate by $9 per credit hour, from $144 to $135, between fiscal year 2015 and fiscal year 2016, and kept tuition rates flat for three consecutive years.
Moderate increases are necessary as College leaders continue to combat the low level of state funding while remaining sensitive to students and local taxpayers, said College of DuPage Interim President Dr. Brian Caputo.
“We continue to enhance student success by offering a high-quality education at an affordable price. It is important to note that, even with the modest increase, COD’s tuition rate will be substantially below the average for Illinois community colleges,” he said.
Board Chairman Frank Napolitano said the College remains committed to providing an affordable education to students.
“To the extent possible, we believe it is prudent to make small, gradual adjustments to our tuition rate, rather than pursuing large increases at irregular intervals,” he said. “Taking this approach minimizes the impact to our students and ensures our ability as an institution to meet the needs of those we serve both in the present and the future.”
The tuition increase comes as College leaders plan COD’s FY20 budget. The document will be completed over the next several weeks and is expected to be made public in May. The Board will hold a public hearing before voting on the final budget in June, with FY20 beginning July 1, 2019.
Also at the March 21 meeting, Board members approved refinancing the College’s Series 2009B General Obligation Taxable Bonds. The refinancing is expected to save the College an estimated $3.1 million.
Dr. Caputo said the refinancing opportunity comes from the superb work of the College’s Financial Affairs Department staff, who effectively monitored the borrowing market.
Napolitano praised staff and applauded their continued efforts to run the College’s finances efficiently and responsibly.
“We have a fiduciary responsibility to our local taxpayers and to our students. Seeking out and acting on these types of opportunities demonstrate our commitment to strong fiscal management,” he said. “We, as a Board, will continue to support efforts that promote the success of the College and its students.”
College of DuPage
425 Fawell Blvd., Glen Ellyn IL, 60137
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2019 College of DuPage