The McHenry County College Board of Trustees will vote on whether to increase tuition for fiscal 2021 at its meeting at 6 p.m. Thursday.
On the agenda is a recommended $1.50 per-credit-hour increase for tuition. This represents a net increase of 1.18% over the current rate of $126.75, so the new proposed tuition and fee rate would be $128.25.
The college estimates that the the net revenue estimated to be received from a $1.50 increase in tuition only is about $159,072.
In the agenda packet, the college wrote that this is below the anticipated fiscal 2021 average tuition and fee rate of all community colleges in Illinois of $148.22.
Although the college “continues to pursue strategies aimed at improving efficiencies across the institution,” it said in the agenda packet for the meeting, “there will continue to be cost increases related to providing world-class instruction in McHenry County.”
According to the agenda packet, the recommendation to increase tuition is part of a general fiscal strategy to create a “sustainable revenue model” addressing the “inevitable cost pressures” in attracting and retaining talented employees.
“When proposing tuition increases, the college is very sensitive to the financial impact on our students,” according to the agenda packet. “Increases in state [Monetary Award Program] grant funding, foundation grants and scholarships, and multiple innovations such as the $4.7-million savings in textbook costs for students will ensure the cost of attendance is mitigated by record levels of support.”
According to McHenry County College, the college has the 36th-lowest combined tuition and free rate among 39 community colleges in Illinois in fiscal 2020.
With the proposed increase in tuition, the college still is estimated to be the 35th-lowest in the state. The state average tuition and fee rate currently is estimated at $148.22.