Harris-Stowe University President Doctor LaTonia Collins Smith says increasing operational costs are forcing Universities to raise tuition - a decision Harris-Stowe is struggling to make.
"We're also trying to juggle affordability and accessibility too, making sure that accessibility remains part of our Universities identity and our responsibility as a public HBCU," Dr. Smith said.
She said the current financial strain on Universities is worst for HBCUs, or Historically Black Colleges and Universities, who are already underfunded.
Although they haven't increased tuition costs in 7 years, Dr. Smith said the University board will be voting on a 5-percent increase this week.
"Operational costs continue to rise," she said. "Inflation has significantly impacted higher education in general in more recent years, and so what Universities nationwide are doing is reevaluating their funding models, and so is Harris-Stowe."
According to Dr. Smith, rising operational costs include: facility salaries, technology and infrastructure upgrades, and overall student services.
If the tuition raise is passed, Harris-Stowe will join the University of Missouri System in raising tuition costs this fall for undergraduate students by 5%.
One of the solutions given by Dr. Smith was creating partnerships with outside entities and businesses, which is something most Universities do through Graduate Programs.
"With Master's Degree programs, [they're] not fully funded by finical aid. Some institutions rely on partnerships with industry, who actually pay for their employees to receive a Master's Degree."
Harris-Stowe will offer the University's first Graduate Degree this fall, which will be an MBA.
Listen more to Dr. Smith's conversation with KMOX's Jade Aubrey at the podcast below.
Could Harris-Stowe join the fold?
Could Harris-Stowe join the fold?
