Carolina Value: keeping tuition and fees as low as possible

By W. M. “Marty” Kotis III

Kotis is the CEO and owner of Kick Ass Concepts, a commercial real estate developer of properties in the Carolinas and the manager of multiple hospitality businesses. Kotis earned a B.S. degree in business from UNC-Chapel Hill’s Kenan-Flagler Business School in 1991 and an M.B.A. from UNC-Greensboro in 1995. Kotis also served on the University of North Carolina system’s Board of Governors.

North Carolina’s Constitution requires the state to provide the benefits of the university to the people of the state as free as practicable. At the same time, state leaders take pride in providing an education not only low in cost, but also high in quality. Our aim, therefore, is to provide a university education of great value.

To achieve this central goal at UNC Chapel Hill, our Board of Trustees is keeping in-state tuition flat for the sixth straight year. Tuition is higher for the one in five students from out of state whose families typically do not contribute to the state tax revenues supporting the university.

We have also kept fees low for all students, on the premise they should pay only for related costs and not generate revenue for other purposes. In fact, our student fees are the lowest in the state’s university system.

Our efficiency efforts not only ease the burden for students, they also help keep UNC-CH attractive at a time when the cost of a college education is spiraling upward, and as some universities’ enrollments are dropping. UNC-CH was one of only four universities in the UNC System, out of 16, to see enrollment increase in 2022.

For the 18th consecutive year, U.S. News & World Report recently ranked UNC-CH as the best value among America’s public universities, the nation’s fifth-best public university, and America’s 29th best university overall.

At the same time, we trustees have a duty to oversee the management of UNC-CH as a valuable long-term asset of North Carolina’s almost 11 million people, a job we take seriously. Signing the front of a paycheck gives one a keen appreciation for the need for cost controls. By design, many members of the board have business experience, which helps us manage costs actively and honor our fiduciary responsibility to the state.

We have eliminated a persistent $100 million budget deficit while navigating complex administrative practices. The knowledge that we are evaluating schools and departments helps each become more mindful about spending. Meanwhile, we are expediting long-overdue repairs and renovations. In other words, we’re overseeing the university as we would our own households.

Our volunteer board is engaged and committed to working hard, solving problems, and advancing the university’s core missions of teaching, research, and public service. This sometimes requires asking tough questions and turning down requests. That’s partly a matter of oversight and accountability on behalf of the people of North Carolina.

It’s also a matter of sustainability, as a lean and efficient operation attracts and maintains public support for our programs and initiatives. North Carolina taxpayers should feel confident that we’re spending their money wisely and effectively for the benefit of our growing state.

This approach is good for students, too. Thanks to our focus on low tuition and fees, combined with generous financial aid for students in need, 64% of our undergraduates leave Chapel Hill with no student debt. The 36% of graduates with student debt have about $10,000 less than the national average.

Carolina’s winning equation is: high quality + low cost = great value. At Chapel Hill, that’s the winning formula that we, as trustees, are proud to uphold.