The LSU Board of Supervisors discussed tuition increases at its Monday meeting, and it also approved the design layout for the Nicholson Gateway Project and heard an initial report from the Transition Advisory Team.
Wendy Simoneaux, the LSU System’s chief financial officer and assistant vice president for Budget, Finance and Comptroller, presented a potential tuition increase starting in the fall.
Once LSU System campuses pass the LA GRAD Act upon the Louisiana Board of Regents review, the University will ask the Board of Supervisors to permit a $32 million System tuition hike, Simoneaux said.
The LSU Baton Rouge campus would see a $24 million tuition increase, she said.
Under the LA GRAD Act, Louisiana universities can only increase tuition by 10 percent without the approval of the state legislature.
While nothing will be voted on until LSU passes the LA GRAD Act, the Board did approve the design layout of the Nicholson Gateway project.
The 28-acre area located across from Tiger Stadium will include mixed-use retail housing, a student residential district and retail space, according to the project’s executive summary.
Patrick Martin, director of Finance and Administrative Services, said the final development decisions and exact design would be approved later.
The project will likely go to a private developer to fund instead of putting the University’s money into it, he said.
Christel Slaughter of SSA Consultants gave the Board a status update on the reorganization process that is being handled by the Transition Advisory Team.
She said it is crucial that people understand why the University needs to change.
“Higher education is the country is going through a very, very difficult period,” she said. “If people don’t understand why LSU has to change, they will never go along with the change … We are in challenging times, but we can give you opportunities for leverage points where LSU can invest.”
Interim System President and Chancellor William “Bill” Jenkins said the process will save the University in the future.
“There’s no doubt there will be significant savings as we move ahead,” he said. “If anyone doesn’t think the rest of the country is watching what we’re doing, I can tell you they are. They know we have to do this and we’re on the right track. I’ve heard that from a number of out-of-state sources.”
“There’s no doubt there will be significant savings as we move ahead.”
