CURRENT STUDENTS: NO CHANGE
Tuition increase begins for new students late 2021
Students matriculating to the e-Foundation 300 Track in Term 2104 and beyond will see a ten percent tuition increase over current fees. This will increase the total cost of the e-Foundation 300 track from $115,000 to $126,500 for those students. There is no tuition increase for current students.
CNBC* reported in late 2019 that US college tuitions had increased 25 percent in the previous 10 years. The Finaid website (https://finaid.org/) added that tuition rates tend to increase about eight percent per year.
“OUM had not raised its tuition fees since 2012 until this year,” says Chris Dudley, Deputy Vice Chancellor for Administration and Student Affairs. “It’s unheard of for a university to go nine years without increasing tuition fees.”
Announced earlier this year, total tuition fees for the e-Foundation 100 track will increase to $150,000 for new students beginning their studies at OUM in January. That increase covers 1) the cost of the 12-week Introduction to Medicine course launching in the new year, 2) e-Foundation 100 modules expanding from four to six weeks, and 3) e-Foundation lectures expanding to two hours from 1.5 hours.
“As explained in March, changes to this track largely impact US students who enroll in e-Foundation 100 to strengthen basic science mastery needed for USMLE Step 1,” adds Dudley. “Again, there is no tuition increase for current students.”
Since 2012, OUM’s operating costs have grown considerably. The University has expanded its curriculum, added faculty and increased the number of hours they teach, expanded student advising programs to include Research and Clinical Advisers, added library resources, and introduced technology to make course content more accessible. The University could no longer manage these additions to the operating budget without assistance.
OUM will continue to accept tuition payments in AUD, CAD, NZD, and USD for residents of those countries, and payment plans will remain available.
*CNBC provides business news and financial market coverage as part of the NBCUniversal News Group.