CSU System Board of Governors Approves Campus Budgets

The Board of Governors of the Colorado State University System approved budgets for its campuses this week that keep tuition levels low and maintain each institution’s strong value proposition and positive trajectory.

CSU System leadership thanked state legislators, particularly the Joint Budget Committee, for providing continued support to Colorado’s public higher education system. The state general fund appropriations to higher education in Colorado increased 9% this year. Lawmakers also limited undergraduate tuition increases to 3% for residents; 4% for nonresidents.

“Our state leaders have a real challenge every year when they work on the state budget because Colorado ranks near the bottom nationally in state funding for higher education – and we started this budget cycle concerned that we would continue to fall behind in a way that would not serve our students or the broader state,” Chancellor Tony Frank said. “Instead, lawmakers delivered stable funding to public higher education, and we appreciate that they recognize the importance of providing access to an affordable world-class education and serving the entire state through teaching, research and service.”

The 2024-25 fiscal year starts July 1. The budgets approved by the Board this week include the following highlights:

CSU Fort Collins

Undergraduate tuition for Colorado resident students will increase by $186 a semester, a 3% increase. Nonresident undergraduate tuition will rise by $653 per semester, a 4% increase. About 25% of tuition increases will support student financial aid, and the increases will not affect the university’s lowest-income students.

Based on increases in mandatory costs across a wide swath of budget areas, continued inflationary pressure, and tighter reserve balances coming out of COVID, the FY24-25 budget year is going to be challenging and highly dependent on both state funding and tuition at the Fort Collins campus.

The budget approved for CSU includes a number of cost-saving measures, with an aggregate spending reduction totaling about 2.4%. Reductions, however, are not being spread across the board. Some units will see budget increases, some budgets will be flat, and others will see varying levels of reductions in operating dollars.

For instance, CSU protected financial resources to support institutional priorities such as student success, will invest in initiatives that hold the potential to generate new revenue streams, and will stop doing some things that are not fully aligned with CSU’s core mission.

“I want to express my appreciation to the many campus stakeholders and shared-governance partners who worked together to plan for the upcoming budget year,” President Amy Parsons said. “We approached this challenging budget year with the goal of maintaining our incredibly strong foundation of excellence and investing in student success. CSU remains well-positioned to carry out our mission for the benefit of Colorado, our nation and the world.”

CSU has budgeted for a 1% increase in compensation for faculty and administrative professional staff. CSU is continuing to look at long-term strategies on how best to remain competitive nationally with respect to compensation and benefits. Last year, CSU’s compensation merit pool was 5%.

CSU Pueblo

CSU Pueblo will increase faculty and staff salaries with a 3% merit pool for faculty and administrative professional staff. In 2023-2024, CSU Pueblo invested one-time dollars in enhancing salary equity and faculty and staff had a 5% compensation merit pool.

Undergraduate tuition for Colorado resident students will increase 3%, or $128 a semester, and 4% for non-resident students.

CSU Global

CSU Global, the System’s 100% online university, does not receive state funding or collect student fees, and has not raised tuition rates since its inception in 2007. For the first time in 17 years, tuition for future new students will adjust slightly to better align with the marketplace.

Effective July 15, new students enrolling at CSU Global will have a $375 per credit tuition rate for undergraduate courses and an $675 per credit tuition rate for graduate-level courses. Additionally, current students will not see a change in tuition rates due to CSU Global’s Tuition Guarantee, which allows students in good academic standing to keep their initial tuition rate through graduation.

CSU Global remains focused on providing high quality courses and support resources, as well as a commitment to active-duty and veteran students and their dependents, who will see tuition rates stay flat and discounted, respectively.

About the CSU System

The three CSU System campuses, and the out-of-state students they attract in an average year, fuel approximately 25,000 Colorado jobs and about $238 million in state income and sales tax revenue annually. The campuses – the flagship research university in Fort Collins; CSU Pueblo, a regionally focused Hispanic-serving institution; and the fully online CSU Global – together enroll more than 50,000 new and returning students each year.