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Tenn. Board of Regents Committee Recommends Tuition Increases
The Tennessee Board of Regents (TBR) Committee on Finance and Business Operations recommended increases in tuition/maintenance fees for the state's community colleges and some universities.
The TBR system includes six universities, 13 two-year colleges and 27 technology centers, providing programs to more than 200,000 students across the state. It does not govern the University of Tennessee instituions.
A spokesperson for the TBR committee said that the recommended increases "are lower than recent years thanks to improved state funding."
The committee is recommending increases of 3 percent for each of the 13 community colleges across the state and ranging from 1.4 to 6 percent for the six TBR universities. Students at the Tennessee Technology Centers will not see a maintenance fee increase.
The committee will forward the proposed rates to the full Board of Regents, which will vote on the recommendations at its quarterly meeting June 21. The rate recommendations are within the maintenance fee guidance adopted by the Tennessee Higher Education Committee last fall.
If approved by the Board, students at Tennessee State University will see a 1.4 percent maintenance fee/tuition increase, Austin Peay State University – 3 percent, East Tennessee State University – 4.6 percent, Middle Tennessee State University – 5.7 percent, and 6 percent at both Tennessee Tech University and University of Memphis.
When combined with mandatory fees (unique to each campus, including fees for athletics, student activities, etc.) already approved, the proposed price increases would amount to about $102 per year for community college students taking 15 credit hours and range from $72 per year at TSU to $546 at ETSU.
Maintenance fees are the charges based on credit hours for in-state students. For example, a student pays a flat rate for the first 12 hours of class credits and a discounted rate for any additional hours. Out-of-state students are required to pay tuition in addition to maintenance fees. Mandatory fees vary by institution, fund specified programs, and are paid by all students regardless of the number of hours they take.
The increased maintenance fees/tuition are needed to fund the portion of the mandated 1.5 percent salary increase for all state employees that was not funded through state appropriations and inflation cost increases in utilities and insurance. Most institutions also requested additional increases to fund efforts to increase student success.
For example, APSU plans to support a program called Inside Track, which uses data-informed academic coaching to impact student persistence. MTSU will increase tenured and tenure-track faculty to ensure academic program quality. And TTU will implement a Freshman Flight Path Program to increase the retention of first-year students. Community colleges will implement student retention efforts and a state-wide marketing plan to promote the value of Tennessee’s community colleges.
In previous years, state funding for higher education declined by about 30 percent, including a more than 2 percent base operating budget reduction last year.
The Tennessee Board of Regents is among the nation’s largest higher education systems, governing 46 post-secondary educational institutions.Monday, June 10 2013, 01:12 PM EDT
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BANGKOK (AP) -- Asian stock markets steadied today after a sharp sell-off the day before.
There was a dearth of corporate or economic news for traders to digest and an insipid performance on Wall Street gave little direction either.
Most indexes were modestly higher after declining Monday on weak Chinese trade figures that reignited fears of a deeper slowdown in the world's No. 2 economy.
Benchmark U.S. crude oil rose slightly, remaining at just above $101 a barrel.
The dollar gained against the euro and fell against the yen.
ECONOMY-THE DAY AHEAD
WASHINGTON (AP) -- Inventories and jobs news are the subjects of today's government economic data.
The Commerce Department releases its report on wholesale trade inventories for January this morning. December's report showed businesses increased stockpiles at the slowest pace since last summer. The 0.5 percent December increase followed healthy gains of 1 percent in November and 1.1 percent in October.
Also this morning, the Labor Department releases its job openings and labor turnover survey for January.
MILWAUKEE (AP) -- The job outlook is looking up for the second quarter.
ManpowerGroup's quarterly Manpower Employment Outlook Survey of employers' intentions to increase or trim back their workforce found a net increase of 13 percent.
The workforce solutions company says 19 percent of the more than 18,000 employers surveyed anticipate increasing staff levels. ManpowerGroup's Chris Layden says it's "the strongest second-quarter hiring intention since the second quarter of 2008." And Layden says expected staff reductions of four percent were the lowest in the survey's history.
Layden says the survey found a positive outlook in all 13 industry sectors, especially engineering and technology. He says the survey found that "95 percent of employers were having difficulty finding engineers."
According to Layden, the survey shows nationwide growth and "points to a little steadier job market."
BEIJING (AP) -- China's central bank governor has said Beijing might finish the process of easing controls on interest rates within two years and market forces will set the pace for use of its tightly controlled currency abroad.
Zhou Xiaochuan spoke at a news conference during the annual meeting of China's legislature, at which communist leaders have announced plans to make the economy more market-oriented and productive.
The central banker said ending controls on rates paid by banks to savers would be the last step in easing interest rate controls. He said he expects that to come in one to two years.
Zhou said the central bank wants market forces to determine the pace at which China's yuan is used for international trade and investment.
LEGALIZING MARIJUANA-FIRST TAXES
DENVER (AP) -- In the world's first accounting of a recreational pot industry, Colorado officials say the state has made roughly $2 million in marijuana taxes in January, the first month of sales.
The tax total reported Monday by the state Department of Revenue indicates $14.02 million worth of recreational pot was sold. The state collected roughly $2.01 million in taxes.
The state legalized pot in 2012, but the commercial sale of marijuana didn't begin until January. Washington state sales begin in the coming months.
The taxes come from 12.9 percent sales taxes and 15 percent excise taxes. Voters approved the pot taxes last year. The first $40 million of the excise tax must go to school construction.
Colorado has about 160 state-licensed recreational marijuana stores, though not all were open in January.
DALLAS (AP) -- The Mt. Gox bitcoin exchange that recently collapsed in Japan has filed for U.S. bankruptcy protection to shield itself from a lawsuit seeking to repay thousands of people whose digital currency is now missing.
The U.S. filing made in Dallas late Sunday supplements a bankruptcy petition that Mt. Gox submitted in Japan at the end of last month.
Mt. Gox was once the world's largest exchange specializing in bitcoins, but now finds itself in a financial mess after losing about 850,000 bitcoins valued at $473 million, according to court documents.
Although it's based in Tokyo, Mt. Gox is opening a bankruptcy case in the U.S. in an attempt to delay a recent federal lawsuit filed in Illinois on behalf of all U.S. residents burned by the exchange's abrupt demise.
NEW YORK (AP) -- Chemicals maker DuPont says its first-quarter results could be hurt by extended cold weather and winter storms in North America and turmoil in Ukraine.
DuPont also says uncertain farming conditions may affect its results. The company did not quantify the effect of those factors.
FactSet says analysts expect DuPont & Co. to earn $1.68 per share in the first quarter.
For the full year, DuPont says those factors will be canceled out by greater global industrial production, lower agricultural expenses, and the execution of its business plan. The Wilmington, Del., company is still forecasting adjusted income of $4.20 to $4.45 per share.
Analysts expect $4.33 per share, on average.
Shares of DuPont rose 11 cents to $67.35 on Monday, then slipped 69 cents in after-hours trading.
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