Hunter
08/04/23
The Iowa Board of Regents approved fiscal year budgets for the three state-run universities this week at their meeting in Urbandale.
Iowa Capital Dispatch reports for the University of Iowa, that means an allocation of $2.8 million to the College of Nursing, which will be used for hiring additional faculty and retaining current faculty so that the college can admit an additional 48 students each year.
Faculty members will receive a 4.2 percent average increase in salaries, in an effort to catch up with peer university levels.
In order to keep student debt low, the student aid budget has been increased by $8.1 million. University of Iowa President Barbara Wilson told the Regents that half the UI student body graduates debt free, while the other half has an average $28,000 debt at graduation.
Iowa Capital Dispatch says The UI’s fiscal 2024 general operating budget includes $512.4 million from tuition, $218 million in state appropriations and $72.6 million from other areas, totaling $802 million.