The University of Colorado Boulder plans to eliminate course-related fees this upcoming Fall 2018, which could result in enrolled students saving hundreds of thousands of dollars per semester.
Approximately $8.4 million each year in tuition costs, to be precise.
There are more than 60 course and program fees the university plans to get rid of, which will benefit hundreds of college students working towards a brighter future.
The school chancellor, Philip P. DiStefano, made an announcement during his most recent state of campus address:
“Today, I am announcing The Be Boulder Pact. It is our commitment to our students and their families to further lower cost and increase accessibility to an education at CU Boulder. The three components are: eliminating all course and program fees; increasing scholarships and supporting our student government’s efforts to reduce textbooks costs.”
CU Boulder also plans to spend a million dollars to pilot a program on campus, allowing students to use online textbooks at a discounted rate.
With the cost of tuition and textbooks being so high, it’s difficult for students to keep their mind on their future rather than the constantly growing money costs, and how they will pay off their student loans after schooling.
Student loan debt is constantly growing in the country, with a median average of $37,172 according to Forbes “Student Loan Debt In 2017: A $1.3 Trillion Crisis“.
By limiting tuition fees, and creating an online textbook system, CU Boulder could be taking a huge step towards a more financially enlightened generation of students.
Last year alone, CU Boulder launched a “Tuition Guarantee” system that locked tuition rate and mandatory fees for entering freshmen for four years, meaning their rates will not increase while attending school. With that program alone, CU estimated a lower average student debt by approximately 15 percent.
The less student loan debt, the more students can focus on their actual future and less on their monetary problems.
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