New Audit Says MO Tuition Rises Faster than Inflation
Jefferson City, MO – A new state audit says the cost of tuition at Missouri's public colleges and universities continues to rise faster than inflation.
The report also notes that state appropriations for higher education continue to fall. It says the reduction is forcing schools to either use reserves, reduce costs or increase revenue (i.e. raise tuition) to balance their budgets.
Missouri sends a lower percentage of general revenue to higher education than any of its eight bordering states. (General revenue is money the state gets that isn't earmarked for a specific purpose)
School officials have said they are leaving vacant positions unfilled, freezing faculty and staff salaries, reducing library access and acquisitions, and offering early retirement packages.