Drake University President Marty Martin introduced two major changes to tuition being implemented next fall.
In an email to the student body, Martin announced that returning bulldogs will pay $36,112 for tuition, a 3 percent increase from this year. Tuition has steadily increased over the last six years at an average of 4.5 percent.
“This lowering of the annual tuition percentage increase reflects our continuing efforts to be good stewards of the resources entrusted to us by you and your families,” Martin said. “We have spent the last year finding ways to cut our operating expenses and to move existing resources into more high-impact activities. We remain committed to doing both going forward.”
Martin also noted that the university saved $1.35 million in operating expenses during the past fiscal year and is working to add another $1.5 million to those savings this year.
This news was released now because Drake is also promoting the Drake Tuition Guarantee. Incoming undergraduate students, starting fall 2017, will pay one set tuition all four years.
In a video press release, Martin said, “At the same time, we want to take care of our current students, and that’s why for the next year our tuition is only going to increase by 3 percent.”