At its meeting today, the Coastal Carolina University board of trustees approved a tuition increase of 0.9 percent for in-state undergraduate and graduate students, and 2.8 percent for out-of-state undergraduate and graduate students, effective for the 2019-2020 academic year.

Housing fees will not increase for the next fiscal year or in the foreseeable future as a result of the property refinance plan initiated in 2014. All residential students will continue to receive a $75 per semester housing credit, which was originally implemented for the 2017-2018 academic year. This credit will continue for two additional years.

The cost of the popular Teal 150 block meal plan and the Basic 21 meal plan did not increase. Other meal plans options saw a slight increase based on labor and food cost increases.

Despite the tuition increase, CCU maintains a below-average tuition rate for undergraduate in-state students who attend a South Carolina state institution. The average tuition in the state is $12,200 annually (as of 2018-2019), and the annual tuition rate at CCU for 2019-2020 will be $11,640 for in-state students.

The board approved the President's discretionary spending for FY 2019-2020 at $350,000. This is the same amount approved in 2018-2019.

Finally, trustees also approved a resolution that provides for the early retirement of all outstanding maturities of the Series 2010A State Institution Bonds (up to $36,000,000). The repayment of these bonds will be funded from the Horry County penny sales tax for education and other university funds. This measure will save the University $6.5 million dollars in interest over a 10-year period.