OBU ups 2018 tuition
University advances renovation project
ARKADELPHIA — The Ouachita Baptist University Board of Trustees recently approved an increase in tuition as the university saw a spike in freshman enrollment and a significant gift from an anonymous donor.
The board approved a 3.5-percent increase for tuition, room and board for the 2018-19 academic year. The increase was among items the board discussed Sept. 21 during its quarterly meeting on the Arkadelphia campus.
The university’s endowment increased by more than $7 million to a total of $108 million this year as first-time freshman enrollment grew by 17.9 percent. OBU President Ben Sells said the university is stronger
because of enrollment growth and endowment growth.
Total fall enrollment increased to 1,545 from 1,517 in 2016. The university plans to grow undergraduate enrollment to capacity over the next five years.
“If we can grow to 1,750 students compared to 1,500 and can do that for 10 years in a row, over those 10 years we would graduate at least 1,000 more students than we otherwise would,” Sells said. “More importantly, we will be extending the impact of our mission.”
Sells reported a gift of $1 million from a donor who wished to remain anonymous. The gift was submitted to the President’s Innovation Fund to provide resources and help fund the university’s strategic growth plans.
“I believe Ouachita is rising, going from strength to strength, building on our wonderful heritage and history,” Sells said.
Trustees learned fundraising is complete for the $2 million renovation of Berry Bible Building and addition of the Horne Center for Biblical Preaching. The construction project is planned to begin in January.
An external financial audit report cited a “clean” audit and increased financial strength for the university. Trustees adopted the university’s 2017-18 priorities as officials prepare for an accreditation site visit by the Higher Learning Commission in December.
Ouachita’s new strategic plan, scheduled to be finalized in December, includes such strategic directions as sustaining the university’s Christ-centered identity, supporting committed faculty and staff, ensuring transformative learning experiences, expanding beyond the residential undergraduate model and strengthening partnerships with alumni and friends. Sells emphasized the significance of Christ-centered identity and transformative learning.
“Those twin commitments are important and we must excel at both,” Sells said.
The 20-point university priorities approved by trustees include an expanded focus on high-impact learning opportunities, launching a program to benefit multicultural students, initial preparation for developing a campus master plan and continued emphasis on increasing new student enrollment and retention.