Beginning with fall 2008 semester, tuition at the College of Southern Maryland will increase $4 per credit for residents of Calvert, Charles and St. Marys counties. In-county residents will pay $98 per credit. Tuition for other Maryland residents will increase to $171 per credit and for out-of-state residents, $221 per credit. For a full-time student enrolled in 15 credits in the fall, the increase will amount to $60.
Fees were also adjusted by 3 percent. The combined fee per credit has remained at 20 percent of tuition since 1997. Fees are used to fund student activities and deferred maintenance. Both areas have experienced pressures for increased expenditures over the years.
The college has presented a budget that balances the higher costs we anticipate with regard to utility and insurance increases and continues the progress we are making. We will work to ensure that no student is denied an education because of these tuition increases, said CSM President Dr. Brad Gottfried.
CSMs anticipated revenue of $50,369,566 is supported by funding from the state, the three counties of Southern Maryland and tuition. The budget, with an overall increase of 6.5 percent over FY08, reflects projected increases in energy, insurance, and furniture and equipment costs. Utility costs are budgeted to increase by nearly 12.5 percent overall this year, insurance by 21 percent and furniture and instructional equipment by 59 percent.
State aid is projected to increase by 8.6 percent this year, with county support at an average increase of 4.41 percent.
The Board of Trustees noted that as the year progresses, monitoring of the colleges fiscal circumstances may necessitate further tuition adjustments.
For students pursing a bachelors degree, attending CSM for their first two years of college amounts to a significant reduction in college costs when comparing CSM to four-year public institutions or a private college or university. For instance a student who attends CSM for two years before transferring to an in-state university for a bachelors degree could save approximately $15,000 to $20,000, with savings even greater when combining two years at CSM with two years at a private college.
CSMs tuition and fees may be paid over a four-month period through CSMs Tuition Payment Plan which is available to students enrolled with six or more credits. Since the plan is not a loan program, there is no debt, no credit search and no interest or finance charge assessed on the unpaid balance. The only cost is a $35 per semester non-refundable enrollment fee.
For information on the payment plan, contact the Bursars Office at 301-934-7712 or 301-870-2309, 240-725-5499 or 443-550-6199, ext. 7712 or visit www.csmd.edu.