Effective Fall 2016, full-time undergraduates students enrolled in on-campus degree programs at Indiana University-Purdue University Indianapolis and Columbus (IUPUC) will transition to banded tuition. The change is based on IUPUC’s commitment to not only provide superior academics and quality student resources, but affordable tuition as well.
Banded tuition is defined as charging a single-tuition amount for credits within a defined range. It is designed to help undergraduate students graduate in four years and minimize education-related debt. Sometimes known as “flat rate” tuition, banded tuition is already in place at a number of institutions statewide, including IU-Bloomington, Purdue-West Lafayette, Ball State, and Indiana State University.
An advantage of this tuition program is realized in basic tuition when taking between 12 credits and 18 credits, rather than pay a per-credit rate. However, students taking fewer than 12 credits in a semester will continue to pay the per-credit rate, and students enrolled in 19 or more credit hours will pay the banded tuition rate up to 18 credit hours plus the per-credit tuition rate for each credit over 18.
The banded tuition rate will be set at the equivalent of 15 credit hours under the per-credit system, and the banded tuition rate will be different for in-state and out-of-state residents.
The Indiana Commission for Higher Education has found that seven in 10 students at Indiana public institutions that charge banded tuition take 15 credit hours in a semester compared to two in 10 at institutions that charge by the credit hour. Evidence nationwide suggests that banded tuition is a promising strategy for increasing student success and on-time completion.
Students who are enrolled in on-campus degree programs can include online courses in the 12-18 credit tuition band. Students who are enrolled in online degree programs pay for courses by the credit hour and are not eligible to pay the banded tuition rate.
ADVANTAGES FOR STUDENTS
Banded Tuition Allows More Predictable Planning
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Makes the cost of attendance more predictable and understandable.
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Assists students and families plan better financially, knowing tuition rates for full-time enrollment in advance.
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By enrolling in 15+ credits a semester, degree maps, that outline the four-year path to a degree on a semester-by-semester basis, are easier to understand and follow.
Enhanced Academic Flexibility and Faster Time to Degree
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Allow full-time undergraduate students to take more course hours each fall and spring semesters and not be charged an additional amount.
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Permits students to explore an area of interest by taking a course without having to worry about the additional cost of the added course.
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Students who take advantage of banded tuition and enroll in 15 or more credits per semester will graduate in four years, which eliminates the additional expenses of a 5th or 6th year of college.
Long-Term Cost Savings
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On-time graduation means a reduction in room, board, transportation and/or other college related expenses for students and their families, and may also reduce student loan debt.
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On-time graduation will allow students to move into the job market sooner. Earlier entry into the market could result in earning one to two years of additional income over the span of a career. Students who accelerate their progress and take more than 15 credit hours have the opportunity to pursue a minor or certificate at no additional cost.
HOW THE CAMPUS PROVIDES SUPPORT
IUPUC Student Financial Aid staff members are prepared to help students determine how to optimize ways to finance their education and keep loan debt under control.
For additional information go to:
www.finishinfour.iu.edu/banded-tuition/index.shtml or access the college affordability page at: www.iu.edu/college-affordability/