At a board meeting in November , the Trustees were told by Stephen T. Golding, OU's vice president for finance and administration, that the university will have to change its business model, based on the recognition that it can't continue to rely so heavily on students' tuition payments to pay the bills.
Like other public colleges in Ohio, OU
faces both shrinking state subsidies, and a pool of potential students whose families are finding it increasingly difficult to pay for their time in college.
news conference, Golding
explained that OU officials are looking at the possibility of "providing a four-year, or 120-credit hour, guarantee to an entering freshman, such that the cost of their education... would not change for their undergraduate experience, as long as they completed their degree within a four-year period."
If a student did have to stay in school for more than four years, he
would be charged a higher tuition for the extra time, that would be the same as that paid by the "cohort" of students due to graduate immediately after the student's own graduating class.
Another advantage to a guaranteed-tuition system, according to Golding
, is that it would give OU flexibility in how much it charged each new cohort of students, based on a variety of factors.