Illinois Valley Community College announced that there will be no tuition increase this year for students taking classes. This has been the fifth consecutive year IVCC has not increased tuition.

The college receives income from three different sources, those being tuition, property taxes, and government aid. IVCC remains in a favorable financial position.

According to Dr. Matt Seaton, Vice President for Business Services and Finance, IVCC is in excellent financial health which is due in part to the booming of different industries within the college’s tax district.

The equalized assessed value (EAV), the total amount paid in property taxes for the tax district, amounted to $3.5 billion in 2021 and is expected to increase by roughly $13.9 million by 2022.

“IVCC has been able to offset tuition increases by looking to increase elsewhere,” said Student Trustee Madison Miranda. “Dr. Seaton saw he could make very little increase in several property taxes rather than increasing our tuition.”

Tuition and fees go strictly toward the college’s education and building fund and account for roughly 20.7% of the overall three million dollar annual budget.

The current rate for classes is $133 per credit hour with $125.60 going toward the tuition rate and $7.40 being charged for things such as student activities, technology, and overall improvements. This has been consistent for the past five years and could continue to stay at this rate for years to come. Currently, the $133 per credit hour rate falls near the middle of the board when comparing prices of other community colleges in Illinois.

However, the freezing of tuition does not mean that some course fees are not subject to change. The 2022-23 school year will see prices increase for 59 courses, and 7 new courses seeing fees, whilst 48 courses will no longer have fees.

Seaton said, “We strongly believe we will not only be able to maintain current programming, but expand programming into next year and still remain financially stable with no tuition increase.”

“The main reason to freeze tuition is to encourage students to stay on course and to potentially draw new students in,” stated Seaton. “We are hoping to make future students come to IVCC at a more affordable cost.”

For any additional questions, students can email Seaton at [email protected] or stop by his office in C334.