USI president says tuition increase inevitable after state budget cuts
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
The University of Southern Indiana’s new president says they may need to raise tuition after the state cut some of its funding in the recently passed budget.
Steve Bridges, who began his role as USI’s fifth president in April, says 90.1% of the university’s operating budget comes from tuition and state appropriation.
In this year’s final state budget, which was signed by Gov. Mike Braun in early May, higher education institutions received at least a 5% operating reduction, with an additional 5% held in reserve.
“We’re running some scenarios about tuition increases, looking to subsidize the budget through some other reallocations we have on campus, and still trying to keep in mind that you know, Hoosiers, they need to keep pace with the cost of living,” Bridges told Gerry Dick on this week’s episode of the Business & Beyond podcast. “We’re looking at a lot of internal resources, and we’ll inevitably will have to have a tuition increase, even though I didn’t really want to do that.”
Nearly 10,000 students are enrolled at USI between high school dual-credit programs and those pursuing an undergraduate or graduate degree.
Earlier this month, the Indiana Commission for Higher Education recommended that tuition and mandatory fees be held flat at all seven of the state’s public colleges and universities. Braun said in a news release that “out of all state entities, our higher education institutions are in the best financial position to weather these cuts.”
“Some of the other institutions have bigger sports programs that are bringing in revenue, bigger endowments, more research. Our revenue is not as diverse, so from our perspective, we have to be smart,” Bridges said.
Bridges, who has worked at USI in various roles since 1989, says the university is trying to balance affordability and quality.
One of his goals is to increase enrollment to around 12,000 students. For the past two years, USI has welcomed a record number of graduate students and seen increases in freshmen and transfer student enrollment.
“Seventy percent of our graduates live and work in Indiana, so we drive the talent pipeline for this area,” he said. “I’m on the Indiana Chamber, so I really want to double down on what we do locally and repay that with the business community. The business mindset right now in higher education, I think, is more critical than it’s ever been.”
In March, USI signed an Education Partnership Agreement with Naval Surface Warfare Center, Crane Division. The two organizations have been partners for nearly 20 years.
As part of the agreement, NSWC Crane has committed to giving students access to its facilities, equipment, and research projects, as well as mentorship opportunities. The university said the goal is to “bridge the gap between academic learning and real-world applications in STEM.”
“We have STEM areas that they have interest in. We also have an interest in business students, and some of the chemistry type students as well, would be handy. We’re working with them on that and again, hoping to provide that talent pipeline,” Bridges said. “That’s an impressive facility; most people do not realize just what’s there.”
During the podcast, Bridges also said the school will find out this summer whether it has become a fully fledged member of the NCAA Division I.
“We hope to be ready in the fall to be completely, fully participating in all the championships,” he said. “It’s raised our visibility and reputation. And honestly, when we look at enrollment and things, there’s a new market that knows about us in the Ohio Valley Conference. In Tennessee, we’re a lot more present. In Illinois, we’re stronger than we’ve even been.”
IIB Evansville reporter Mitzi S. Morris also recently spoke with Bridges about his decision to take the presidential role, upcoming plans for the university and more. You can read her story here.