Penn College board approves budget, tuition rates for 2013-14

Pennsylvania College of Technology’s Board of Directors on June 20 approved a $102.7 million operating budget for 2013-14 and a tuition increase of 4 percent for Pennsylvania residents.

The $102,684,600 operating budget includes no increase in the college’s original 2012-13 state appropriation of $13,584,000 and represents a $4.8 million (4.9-percent) increase from the current budget.

The total budget for 2013-14 is $144,501,400 and represents a $3.45 million (2.5-percent) increase over the current budget.

The college’s revenue-generating auxiliary fund budgets for 2013-14 total $27.1 million. The restricted current fund budget – for grants, contracts and restricted donations for which outside entities (such as governmental agencies) direct the use of the money – totals $14.7 million.

State appropriations represent 13.2 percent of the college’s 2013-14 operating budget and 9.4 percent of the total budget. Fall 2013 enrollment is budgeted to increase by 1 percent.

In 2013-14, a full-time, in-state student enrolled for the typical two 15-credit semesters will pay $14,940 in tuition and fees, an increase of $570 over 2012-13.

Annual costs for Penn College students are based upon per-credit-hour fees; the number of credits for which a student is registered determines the actual cost. For an in-state student, tuition and fees will be $498 per credit hour, an increase of $19 per credit over the current year. Pennsylvania residents account for 88.3 percent of the college’s total enrollment.

Tuition and fees for an out-of-state Penn College student will increase from 1.3 to 1.5 times the in-state rate. In 2013-14, an out-of-state student will pay $706 per credit hour, an increase of $106 over 2012-13.

“Ensuring that a high-quality college education remains affordable is a guiding factor in our budgeting,” said President Davie Jane Gilmour. “Costs associated with technology-based instruction are higher than those for traditional programs, but technology graduates are in demand in the workforce. A Penn College degree is a passport to a career offering good wages and job security.”

For the 2013-14 academic year, rate increases for all housing and meal plans offered by Residence Life and Dining Services at Penn College have been held to 2 percent.

“Our goal is to keep all costs for students and families as affordable as possible while continuing to provide high-quality services that enhance the overall college experience,” Gilmour added.

Penn College has an aggressive financial aid and scholarship program addressing the financial concerns of many students. Approximately $88.2 million in financial aid – from a variety of federal, state and local sources – was awarded to more than three-quarters of all Penn College students in 2011-12.

The 2013-14 budget includes a net decrease of 6.5 employee positions, but an increase of 1.5 faculty positions. Employee benefits will rise by 10.8 percent overall in 2013-14, attributable mostly to costs for health insurance and state retirement plans.

Funding for new initiatives in 2013-14, which are tied to the college’s Strategic Plan, includes renovations and equipment for an additional nursing classroom and two new computer labs. Funds are also included for the automotive restoration academic program, assessment work and a summer program at the Dunham Children’s Learning Center.

Also included in the budget are gifts of $100,000 to the City of Williamsport and $35,000 to the Williamsport Area School District. Both voluntary contributions are re-examined on an annual basis.

Penn College is a special-mission affiliate of Penn State; its state appropriation is issued as a line item in Penn State’s budget. Penn College receives no direct funding from Penn State, and the college establishes its own rates for tuition and fees, which constitute the bulk of its revenues.

The state has not yet passed its 2013-14 budget. At a meeting in April, the Penn College Board of Directors authorized the college to continue operating at 2012-13 adjusted budget levels until a 2013-14 state budget is signed into law.

For more about Penn College, visit www.pct.edu, email admissions@pct.edu or call toll-free 800-367-9222.

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Last Updated June 21, 2013