Despite budget uncertainty, U of L administration says students can still borrow loans
As the Board of Trustees leaves the University of Louisville, students are left with questions.
LOUISVILLE, Ky. (WDRB) -- As the Board of Trustees leaves the University of Louisville, students are left with questions.
The school budget was scheduled to go before the board this week. But Gov. Matt Bevin dismissed the board on Friday, so tuition for next year has yet to be set in stone.
“If I'm going to go to a school, I want to know how much I have to pay.” U of L student Nick Rogers said.
“That's why Dr. (James) Ramsey went forward with the spending plan. It's because we do have business to do. Students have to go and apply for their loans,” said Susan Howarth, Associate Vice President of Budget and Planning.
The spending plan includes a 5 percent tuition increase, which is the maximum cap. That's the plan the school will be acting on until a budget is approved.
Gov. Bevin has given the three-member interim board the power to approve a budget, but there's no telling if it will meet to approve it.
“The entire board of trustees, everything is going to a clean slate all of the sudden,” student Connor Jackson said.
Without a budget or a set tuition, some students at U of L are concerned loans won't be processed on time.
“The students that it was most critical for were our medical and dental students," Howarth said. "They're the ones who usually apply for their loans in the middle of June. So they're a little behind, but again, we've been working with the Financial Aid office. They assure us that everything is covered and the students should be in good shape."
Howarth promises students are in good shape securing loans and good shape covering the tuition increase as a full-time student under the new Credit for Credit Program.
If a student successfully earns 30 credits in an academic year, the university will rebate or credit back the full five percent tuition increase.
“If a student is successful earning the 30 credit hours, there will be no tuition increase,” Howarth said.
The five percent tuition increase is in line with other schools' tuition, like the University of Kentucky.
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