URBANDALE, Iowa — Students at Iowa's three public universities will pay more in tuition this upcoming school year.
The Iowa Board of Regents voted Thursday to increase resident undergraduate tuition by 3% at Iowa State University and the University of Iowa. The board also approved a 2% increase in tuition for resident undergraduate students at the University of Northern Iowa.
The board also approved new rates for out-of-state students and some specific programs.
Funding from the tuition increases will be used to "address growing financial challenges" among the three universities, including rising costs, faculty retention and student financial aid.
However, current student leaders at each of the universities voiced concern for their own futures in Iowa if tuition continues to rise.
"Potentially, I will have to move to a different state to be able to relieve myself of debt at a faster rate," said Lizbeth Montalvo, student body president at UNI. "This could further negatively impact the state with employment shortages."
The Board of Regents relies on two main sources to fund institutional needs: tuition and state appropriations. Back in September 2023, the board requested an appropriations increase of $14.8 million.
Ultimately, the Iowa Legislature and Gov. Kim Reynolds approved a $12.3 million increase – $2.5 million less than requested.
Tuition rates aren't the only thing on the rise: the presidents of all three universities received a sizeable raise.
University of Iowa President Barbara Wilson and Iowa State University President Wendy Wintersteen will each receive a $60,000 increase to their base annual salaries beginning July 1.
UNI President Mark Nook will receive a $25,000 increase to his annual base salary.