(Memphis) For the second year in a row the cost of going to school at the University of Memphis could soon shoot up hundreds of dollars next year.
The University of Memphis wants to raise tuition 5.1%. Last year they raised tuition 7%.
“I`m kind of sick of the tuition increases. Every year it seems like it`s increased. I don`t see how it`s helping the students any,” said University of Memphis student Kytanya Niter.
The school is asking the Tennessee Board of Regents to raise tuition because they say operating costs are up.
They have to pay for a mandatory state employee pay raise, and they consider inflation.
If the board agrees to the request it will cost students over $400 on top of the over $8,000 tuition and fees a full-time student already pay every year.
Joneesha Collins is headed here next year with a scholarship and says she is going to have to stay on top of her grades because of the tuition increase.
“I`m definitely going to keep working hard to keep it. Hopefully I`ll be able to. I`m not too worried because I know I can do it,” said Collins.
If the Board of Regents goes with the plan on the table students at the University of Memphis who have to take out loans to go to school will have to ask for even more money, and if congress doesn`t act over the next month those same students may have to pay double the interest rates on those loans.
Memphis Grad student Jackson Mobley says an interest rate increase and tuition increase would put him in a tight crunch as he starts life after college.
“Now that I`m in grad school I`m looking at all the student loan money I`ve spent and I don`t want to add to it because that interest is just going to keep growing,” said Mobley.
The Board of Regents Finance Committee will look at the request next Tuesday and the full board will vote on the increase June 21st.
Memphis isn’t the only school looking at an increase in our area.
Southwest Community College wants to raise its tuition 3.7%.