The Tribune

By RASHAD ROLLE

Tribune Staff Reporter

rrolle@tribunemedia.net

COLLEGE of the Bahamas students expect their tuition to increase as the institution transitions into a university, COB President Dr Rodney Smith said.

However, Dr Smith stressed that any possible raise in tuition prices would happen gradually over a period of years.

Speaking on Tuesday to Rotary Club of East Nassau members, Dr Smith said students have personally told him they expect the tuition to increase in order to pay for improved services.

However, he touted the possibility that tuition could someday be free if the institution raises enough funds through endowments.

Dr Smith declined to speak to members of the media after the event, telling reporters that media inquiries must be handled by COB’s Communications Department.

“I cannot say to you that tuition will remain the same,” he said on Tuesday. “Tuition is not competitive right now. Before 2008, college students around the world paid about 33 per cent of what it cost to educate them. Since 2008, since the recession, college students now pay about 44 per cent of what it costs to pay them. If you compare that to what our students pay today and compare that to the operating budget for the college, our students pay about 38 per cent of what it costs to educate them and that is a tuition rate of about $4,500. That does not include room or board or anything as well.

“That is so low (that) if we raise enough money, if we get enough financial support and we are already starting to get scholarship money, it means we can grow to the point where we are a tuition-free university. Think about that. Because $4,500 is so low right now, the average for college in the world is everything from $33,000 to $45,000.”

“Students have already told me they expect a tuition increase because they expect to pay for improved services, improved facilities, be able to go to a research lab and not have a computer turn off on them,” he continued. “We are getting ready to put $3m worth of technology on the campus. They already know that they have to pay for this somehow or the other so they are expecting a tuition increase. However, we’re not going to do a tuition increase in a lump sum. It will be gradual over a period of years and it will be based on a university budget and ability to raise funds as well.”

The decision to raise tuition will be made by a board of trustees to be formed after the college becomes a university, he said.