MEMPHIS, Tenn. (AP) — The University of Memphis says it does not want to raise tuition for the 2014-2015 school year.
According to The Commercial Appeal, the university issued a news release Tuesday saying it will not recommend or support a tuition increase. The university has raised tuition for 22 straight years.
However, the final decision rests with the Tennessee Board of Regents, which sets tuition rates.
In the school's news release, interim president R. Brad Martin says affordability is a key element of student access and successful degree completion.
"Effective allocation of available resources and improved efficiencies at the University will permit this to occur while we focus on serving more students and improving graduation rates," Martin said in the statement.
The university says full-time in-state students pay $4,151 per semester and full-time in-state graduate students pay $5,242 per semester. It is $11,507 per semester for out-of-state undergraduates and $11,452 per semester for out-of-state graduate students.
University Vice President of Business and Finance David Zettergren said administrators researched trends in higher education costs before making the recommendation.
"We thought this was a good time given the current environment to make this work," he said. "We hope this encourages the state not to do anything odd. In the end, we're committed no matter what the state says to do what we have to do to keep tuition level."