A perfect storm is setting up for an “incredibly high” tuition increase and a “perfect storm” for the Grand Canyon University.
A $5,000 increase in tuition for the fall semester and a $5 per credit fee increase in the spring semester are just some of the new changes announced Friday by Grand Canyon President John B. McDaniel.
Those hikes, combined with an increase in student fees, are expected to raise the annual tuition rate by almost $8,000 in 2019, McDaniel said.
The university’s president said that the hikes are in addition to the cost of operating the campus, including $8 million in state funds to repair the campus.
The increase is also expected to increase operating expenses by nearly $1 million, he said.
Grand Canyon has the largest enrollment of any major U.S. college, but that is about where it should be, McAdam said.
The campus is one of only two major U-M campuses in the state that doesn’t have a football team.
The University of California system also is in the midst of a tuition and fees crisis.
The state is facing a $12 billion deficit, which will force the university to close its doors.
The state is also facing a projected $2 billion deficit next year, and the university has warned it could close campuses by 2021 if lawmakers don’t address the shortfall.
Grand, though, has been struggling with a $17 million budget shortfall, which has left it with $2.4 million in the hole.
The school has been trying to address the financial issues.
Last year, the school created a fund for the first time to help cover the tuition increase.
The fund will go toward an increase for students, McAdams said.