The College of Southern Maryland Board of Trustees set tuition for the upcoming academic year, with a 1.8 percent increase, which translates to a $2 per credit increase, for Southern Maryland students effective fall 2014. Residents of Calvert, Charles and St. Marys counties will now pay $115 per credit. Tuition for Maryland residents outside of the tri-county region will increase by $3 per credit and for out-of-state residents by $4 per credit. The comprehensive fee remains at 23 percent of tuition.
CSMs operating budget is supported by funding from the state, the three counties of Southern Maryland, and tuition and fees. The Fiscal Year 2015 (FY15) budget of $63,351,753 reflects an overall increase of 2.03 percent over the previous year and is based on anticipated funding to be provided at the state and county levels. Of the total revenues, tuition and fees constitute 48 percent, county appropriations 28 percent and state funding 21 percent and 3 percent from other.
This budget, while based on a lean enrollment projection, allows us to move forward on major initiatives, said CSM President Dr. Brad Gottfried as he noted flattening trends with high school-age populations. Unlike many colleges, that in the face of flattening enrollments pull back and cut programs, we are able to continue to provide the best quality college education for our students. Acknowledging a 9.7 percent increase in state aid with an additional $1.18 million, coupled with funding support by the three boards of county commissioners in Charles and St. Marys and flat funding in Calvert, Gottfried added, With this support, we are able to hold to a modest increase on tuition.
To enhance and provide a greater level of direct support for students, included within the budget are new services and programs including enhancements to enrollment services, the math lab, the nursing program, driver education, new cybersecurity initiatives, and operating funds to open the new Community Education Building at the La Plata Campus.
In presenting the recommended budget to the Board of Trustees, CSM Vice President of Financial and Administrative Services Tony Jernigan, CPA advised the colleges FY15 operating budget reflects realistic enrollment projections and the use of fund balance to complete the colleges web redesign, continuity of operations planning and Regional Campus well and septic.
It is important that students be able to attend CSM, receive an excellent education and earn a degree without taking on massive student loan debt, said Gottfried. With CSMs growing number of articulations, our graduates as transfer students can stay on track and be successful doing so at a much more manageable cost for their baccalaureate degrees.
CSMs tuition and fees may be paid over a four-month period through CSMs Tuition Payment Plan which is available to students enrolled with six or more credits. Since the plan is not a loan program, there is no debt, no credit search and no interest or finance charge assessed on the unpaid balance. The cost is a $50 per semester non-refundable enrollment fee.
The college also offers an online program that helps students to easily identify and apply for potential scholarships. The CSM Scholarship Finder is a quick, easy and free service that helps Southern Maryland students match their backgrounds and financial needs to dozens of local scholarships in a wide variety of academic programs.
For information on the payment plan, contact the Bursars Office at 301-934-7712 or 301-870-2309, 240-725-5499 or 443-550-6199, ext. 7712 or visit http://www.csmd.edu/Bursar/Tuition/paymentplan.htm. To use CSMs Scholarship Finder visit http://www.csmd.edu/Financial/. For information on scholarships and financial aid assistance at CSM, call 301-934-7531 or 301-870-2309, 240-725-5499 or 443-550-6199, Ext. 7531.