By Rachel Terlep
NEW ALBANY, Ind. — In an effort to help undergraduate students graduate in four years and minimize education-related debt, Indiana University will be moving to a “banded” (flat rate) tuition for its regional campuses and IUPUI effective in the 2016-17 academic year.
Banded tuition is defined as charging a single tuition rate for enrollment within a specific range of credits. Under IU’s banded tuition system, full-time undergraduate students in on-campus degree programs will pay the same amount for any course load between 12-18 hours, as opposed to a per-credit rate. Students taking fewer than 12 credits in a semester will continue to pay the per-credit rate, and students enrolled in 19 or more credit hours will pay the banded tuition rate, plus the per-credit tuition rate for each credit over 18.
The banded tuition rate will be set at the equivalent of 15 credit hours under the per-credit system, thus encouraging students to complete at least 15 credits a semester and rewarding those who take more than 15 credits with tuition savings. The banded tuition rate will be different for in-state residents (including Kentucky reciprocity) and out-of-state residents.
“In order to help more of our students graduate on time in four years, we are implementing banded tuition for all undergraduates beginning in fall 2016,” said Chancellor Ray Wallace. “IU Southeast remains the most cost-effective, public 4-year institution in the area, and we want to give our full-time students an even better reason to graduate with us.”
To help better understand how banded tuition will benefit students with more predictable planning, enhanced academic flexibility, faster time to a degree and long-term cost savings, a comprehensive set of frequently asked questions is posted online.
Resources to assist students in making the transition to banded tuition are available through IU’s MoneySmarts financial educational program, provided by the IU Office of Financial Literacy, which can help students make informed decisions before, during and after college. IU Southeast has also been sending each student an annual student loan debt letter that includes information on his/her cumulative debt, estimated monthly repayment, estimated interest rate and remaining eligibility based on dependency status.
Student success is paramount at IU Southeast, and making affordable tuition is a big step in the institution’s promise to provide students with a quality education. For additional questions or information, contact the IU Southeast Office of the Bursar at (812) 941-2335 or at email@example.com.