The University of Memphis will freeze tuition for the 2018-19 academic year, making it likely the only university in Tennessee – public or private – not to increase tuition this year.
“The single most important measure the University of Memphis can take to improve retention and completion rates is to contain student costs,” said UofM President M. David Rudd. “We have studied the challenges our students face in considerable depth and detail. The single greatest challenge is financial, and we’re working diligently to help control that cost so more students can access and complete higher education.
“When our University is doing well because of improved student performance – both retention and graduation – we need to return some of that gain directly to students. This will be the second year in the past five that the University of Memphis has held tuition flat.”
Over the previous four years, the average annual UofM tuition increase has been 2.1 percent, compared to an average 7.4 percent annual increase over the previous 15 years. With this year added to the equation, the average tuition increase over the five-year span drops to 1.7 percent.
Last week, the Tennessee Legislature approved a budget for the fiscal year 2019. Gov. Bill Haslam’s recommendations were approved, with increases in general operating funds and support for general maintenance.
The UofM Board of Trustees discussed and supported a recommendation for no tuition increase at its March meeting. The Board will officially vote to approve the measure at its next meeting on June 6.