Beginning with the 2017-18 academic year, annual increases in resident undergraduate tuition for all public colleges and universities are limited under law to no more than the average annual percentage growth rate in the median hourly wage for Washington for the previous 14 years as the wage is determined by the Bureau of Labor Statistics. The Office of Financial Management (OFM) calculates the maximum annual increase in tuition each year.
Requires OFM to calculate, and transmit to the institutions of higher education, the maximum annual increase in tuition operating fees for resident undergraduate students by October 1st of each year for the following academic year.
PRO: In 2015 Washington became the only state to lower our tuition. We tied tuition to median wage long term. But the timing isn’t ideal. Schools can’t set their tuition at a time early enough that when they send their acceptance letter, so they can tell students what their tuition will be. This bill simply moves the date to October so they can be certain when they send out their acceptance letters. This is a straightforward bill that will help universities be more competitive and help students understand what they’re signing up for.