NACOGDOCHES, Texas (KTRE) - The fixed-rate option Stephen F. Austin State University is offering to undergraduate students in the fall comes with a premium. The charge locks in tuition and fee costs for four years, according to the vice-president for business and finance Dr. Danny Gallant.
“The fixed-rate plan cost would be $5,675, so a student would pay a $375 premium to be able to guarantee the tuition fees for four years," Gallant said. “The variable plan is initially less expensive but doesn’t alleviate the uncertainty of annual increases. That is fixed at $5,300 if a person does not choose the fixed-rate plan for four years."
It comes down to personal choice, even a gamble, for students and their families. The fixed-option plan could actually cost more than the variable option.
“If there were no increases on an on-going annual basis, then a student would pay more,” Gallan explained.
However, if tuition climbs, "It could save up to $10,000 over the course of their education,” said Dr. Scott Gordon, SFA’s president.
Both plans allow students to take up to 21 credit hours at the cost of 12 hours with no additional charge. The plans fit in well with Gordon’s “15 to finish” program.
“Students who take 15 hours can finish in four years or eight semesters, thereby saving them money with the new tuition model, but they’ll also be also getting out into the workforce sooner and starting a good wage,” Gordon said.
Students don’t just have choices at SFA. Those choices are available statewide. Universities across the state are also offering their fixed-rate and variable-rate options. SFA is confident it has more to offer than the competition.