Student tuition assistance-2.

05LSO-0658.L1

                                                         

FISCAL NOTE

 

This bill contains an appropriation of $4,785,360 from the GENERAL FUND to the University of Wyoming (UW).

 

The appropriation to UW is equal to the anticipated expenditure increase in FY 2006.

 

	FY 2006	FY 2007	FY 2008
NON-ADMINISTRATIVE IMPACT
Anticipated Expenditure Increase (Decrease):
UNIVERSITY OF WYOMING	4,785,360	9,160,300	13,183,112

 

Source of expenditure increase: Scholarships to qualifying students

 

Assumptions:

 

The above estimates are based on the number of incoming freshman admitted from Wyoming high schools during the 2004-05 school year. It is assumed that all qualifying admitted students will enroll.

 

Estimate assumes first year resident freshman of 1,270 eligible students, and this number is held constant throughout the estimate. The assumed annual retention rate is 85%, which reduces the number of continuing students by 15% per year, and all continuing students are assumed to meet all eligibility requirements.

 

The tuition cost is based on 15 credit hours per semester for two semesters with a beginning tuition rate of $87 per credit hour, and fees are estimated at a beginning rate of $658 per year. Tuition and fee costs are incrementally increased by 4% per academic year. Estimate also includes an allowance for books of $250 per semester. The total anticipated cost to UW for FY 2009 and thereafter is $16,900,400. The continuing fully loaded cost for this program is $33,800,800 each biennium.

 

Note: The above estimates are based on the number of Wyoming high school graduates with a grade point average of 3.0 or above admitted to UW during the 2004-05 school year (1,270 students). For purposes of this estimate, it is assumed that the additional requirements in the bill pertaining to course completion, demonstrated proficiency, and ACT composite score are met.

 

 

Prepared by:   Dean Temte, LSO    Phone:   777-7881