S.D. – Thanks to action by Gov. Dennis Daugaard and the legislature,
state-supported tuition and mandatory fees, along with program and delivery
fees, will remain unchanged for resident students at South Dakota public
universities next year.
South Dakota Board of Regents took action Wednesday to set the tuition and fee
schedule for the 2014-15 academic year.
"The Regents and the legislature have
worked together to keep the cost of a college education low for South Dakota
students by freezing tuition and fees this year. I know our students at
Mines and their families appreciate this very much," said Heather Wilson, president of the South Dakota School of Mines & Technology, where freshmen enrollment increased 20 percent last fall and the university is consistently ranked high nationally for its outstanding return on investment (ROI).
Last week the newest PayScale report for colleges ranked the School of Mines 19th nationally for return on investment ROI, ahead of the likes of Harvard, Vanderbilt and Purdue.
The 2014 PayScale College ROI Report considered total cost and alumni earnings, putting the School of
Mines’ 20-year net return on investment at $664,400 for in-state tuition. The
university ranked 21st for out-of-state tuition with a 20-year net ROI of
$656,000. Annual tuition and fees at the School of Mines are $8,240
for South Dakota residents and $11,170 for out-of-state residents.
nearly $4 million included in the Board of Regents’ base budget for the coming
year allows public universities to hold the line on state-support tuition and
mandatory fees for resident students, as well as program and delivery
fees. The tuition buy-down does not apply to non-resident tuition rates
or to self-supported tuition rates paid at off-campus centers and for
policymakers recognized the importance of providing a higher education to all
eligible South Dakotans, while keeping cost at an affordable level,” said
Regents President Dean M. Krogman. “We applaud these efforts and thank state
policymakers for their work on behalf of the public university system and its
year, the state funded a portion of the public university system’s salary
package and operating expenses that is normally covered by adjustments to
resident tuition and mandatory fees. Among the legislative actions that allowed
the Board of Regents to maintain current rates on state-supported, resident
legislature provided a 3 percent salary package, which included a 3 percent
movement to midpoint for civil service employees below the midpoint of their
salary range. The state funded $2,084,367 of the salary and benefits for Board
of Regents’ employees usually funded by tuition and fees.
state covered an increase in health insurance costs for areas of the regents’
budget that would normally be funded by students. This totaled $1,298,212.
state funded $573,284 for inflation costs that would normally have been covered
by tuition and fees.