Break the piggy bank, find some treasure or look for that pot o’ gold. Whatever the means, the ends will require students to find at least $234 more to pay for a year at the University.
The LSU Board of Supervisors voted Thursday to make the tuition increase official.
The hike will become effective for the fall 2008 semester.
Full-time undergraduate resident students will be paying an additional $234 per year in their fee bill, while non-resident students will be paying an additional $648.
A majority of the schools within the LSU System will be receiving the full 5 percent tuition increase – including LSU A&M, LSU-Shreveport, LSU-Alexandria and the University of New Orleans.
LSU-Eunice will only receive a 3 percent tuition increase, and the various health sciences centers in the System are awaiting eligibility from the the Louisiana Board of Regents.
John McDonald, chancellor of the LSUHSC in Shreveport, said even if the Regents allow them to receive a 5 percent increase, he only wants a maximum of 3 percent.
Total revenues from the increases will amount to more than $11 million, with $7.8 million coming from the flagship school.
Incoming Chancellor Michael Martin was given an opportunity to speak to the Board during Thursday’s meeting.
Martin said the experience has been “surrealistic” because he is a first-generation college graduate and is being given an opportunity to serve LSU.
“I had arrived at the time in my life when I had three criteria [when seeking a job] – it’s interesting, rewarding and fun,” Martin said. “That’s going to be exactly the case here at LSU.”
Martin also made four promises to System President John Lombardi and the Board.
“I will continue to bring as much energy in the talents that I have and my experiences … to advance LSU and ensure that it will continue to serve the people of the state,” Martin said. “I will participate in every possible way in the leadership, administration and governance of this institution in an always constructive, respectful and committed way.”
Martin promised that he will do everything in his power to cast LSU in a favorable light.
“I promise that I will make mistakes,” Martin said. “I don’t believe great institutions can continue to be great unless they are willing to change and take risks. In the process of taking risks, mistakes will occur.”
Chairman of the Board Jerry Shea Jr., during his report, said Thursday’s meeting will be his last full meeting as chairman. He is turning over the reins to Chairman-elect James Roy.
“It’s been a pleasure and honor serving as your chairman this last year,” Shea said. “I look forward to working for Mr. Roy and the members of the Board to continue the main campus’ Flagship Agenda and all of our units and subdivisions.”
—-Contact J.J. Alcantara at [email protected]