WEST LAFAYETTE, Ind. - Purdue University is freezing its tuition costs for the next two years in response to the nation's lingering weak economy.
The freeze, announced Friday morning, means the cost of basic in-state tuition at Purdue will remain about $10,000 until the end of the 2014-15 school year. Out-of-state tuition will remain around $29,000.
"I'm really excited, especially since I'm an out-of-state student," said sophomore Kelly Piacenti. "Tuition was already expensive, and it's been increasing the past couple of years. My mom will be excited to hear that too."
Under the freeze, the current base tuition for Indiana and out-of-state students on the West Lafayette campus will remain unchanged for two years. It marks the first year without a tuition increase since 1976.
"I have found a broad consensus among faculty and staff to put the interests of our students and their families first," President Mitch Daniels said in a news release. "In this period of national economic stagnation, it's time for us to hit the pause button on tuition increases. Our students and their families deserve a high-value education that they can afford. We will fit our spending to their budgets -- not the other way around."
Daniels said he would call on every school department to trim spending. He said initial steps would be announced in the next few weeks.
Daniels said $40 million would need to be cut from the budget to accommodate the the freeze, but teaching and research will not suffer.
Daniels also said there's more work to come.
"This is not a one-time endeavor," he said. "This will be an ongoing theme. We are going to stretch the value equation as far as we can. A Purdue degree is worth every penny. We intend for that to be even more true in the future."