Slide 1 An Enduring Relationship between Kentucky and Auburn for Veterinary Medical Education Presentation Objectives • Why has this relationship endured? • Data for substantive review • Potential pat[.]
An Enduring Relationship between Kentucky and Auburn for Veterinary Medical Education Presentation Objectives • Why has this relationship endured? • Data for substantive review • Potential paths forward This enduring relationship to facilitate veterinary education dates back to 1951 Early AU CVM Graduates from KY Name Clifton Covington Joseph Hobbs James Faughn William Caplinger Ernest Stratmeyer Joseph Stearns Frank Canon Orin Peters James Vaughn Tom Maddox Graduated 1922 1938 1941 1943 1943 1943 1944 1946 1947 1950 Hometown Mayfield, KY Anchorage, KY Benton, KY Frankfort, KY Paducah, KY Louisville, KY Louisville, KY Sturgeon, KY Paducah, KY Greenville, KY Name Graduated Hometown Abram Allen 1955 Kevil, KY Kermit Burdette 1955 Renfro Valley, KY Harry Flotemersch 1955 Bellevue, KY Robert Houk 1955 Horse Cave, KY Thomas Howard 1955 Louisville, KY Steele Mattingly 1955 Trinity, KY Julian Maupin 1955 Richmond, KY Wellington Moore 1955 Lexington, KY William Pumpelly 1955 Cynthiana, KY William Rogers 1955 Wickliffe, KY Thomas Snider 1955 Shelbyville, KY William Wise 1955 Ravenna, KY John Thomas Vaughan 1955 Tuskegee, AL Southern Regional Education Board (SREB) • The Southern Regional Education Board is a non-partisan compact of 16 member states formed in 1948 by the region’s governors and legislatures • Each governor signed the Compact language and each state legislature then ratified the exact same language • A compact is basically a legally binding contractual arrangement among the states Southern Regional Education Board (SREB) AU-SREB-Kentucky Relationship The Commonwealth of Kentucky through the Kentucky Council on Postsecondary Education (CPE) has funded seats for their residents at Auburn University College of Veterinary Medicine (AU CVM) through a regional contract program of the Southern Regional Education Board (SREB) since 1951 This 68-year collaboration has resulted in the outstanding and affordable veterinary education of over 1,800 Kentucky residents Of the 117 Kentucky residents applying to AU CVM to enter the Class of 2023 in the Fall of 2019, 81 were interviewed and 38 have been accepted and enrolled AU-SREB-Kentucky Relationship Kentucky Academic Year Contract Fee Paid 2011-2012 $25,000 2012-2013 $25,800 2013-2014 $26,600 2014-2015 $27,700 2015-2016 $29,100 2016-2017 $29,100 2017-2018 $30,500 2018-2019 $31,000 2019-2020 $31,000 SREB Contract Amount $25,000 $25,800 $26,600 $27,700 $29,100 $31,100 $32,600 $33,500 $33,500 Seats Total KY Payment 152 152 152 152 152 152 152 152 152 $ $ $ $ $ $ $ $ $ 3,800,000 3,921,600 4,043,200 4,210,400 4,423,200 4,423,200 4,636,000 4,712,000 4,712,000 All Kentucky dollars go to Kentucky residents to directly pay the difference between in-state and non-resident tuition Academic Year 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 2019-2020 Formulas for Calculations A Resident Two-semester n Non-resident TwoAnnualized Kentucky Contract Tuition & Fees nSemester Tuition & Fees Tuition Difference Fee Paid u $16,692 $39,272 $25,403 $25,000 $17,440 $41,172 $26,699 $25,800 $17,852 $42,382 $27,596 $26,600 $18,194 $43,366 $28,319 $27,700 $18,418 $44,022 $28,805 $29,100 $18,696 $44,840 $29,412 $29,100 $20,060 $46,748 $30,024 $30,500 $20,360 $47,609 $30,655 $31,000 $20,649 $48,476 $31,305 $31,000 SREB Contract Amount $25,000 $25,800 $26,600 $27,700 $29,100 $31,100 $32,600 $33,500 $33,500 Annualized Tuition Difference Kentucky Contract Fee Paid $403 $899 $996 $619 ($296) $312 ($476) ($345) $305 Annualized Tuition Difference = (Non-resident Two-semester Tuition & Fees / semesters per year * semesters total / years) (Resident Two-semester Tuition & Fees / semesters per year * semesters total / years) Of Kentucky’s dollars appropriated to this program, there are no added SREB administrative costs, and there are no administrative costs added by AU CVM Currently, all Kentucky $$$ directly reduce the tuition costs of Kentucky residents Kentucky students are admitted to AU CVM due to this program who would not otherwise be admitted to Auburn Of the Colleges of Veterinary Medicine in the United States, Auburn Ranks 4th from the lowest for instate tuition and 18th from the lowest for out-of-state tuition http://www.aavmc.org/students-applicants-andadvisors/exploring-the-cost-of-a-veterinarymedical-education.aspx on 30-Aug-2018 Resident tuitions have increased by nearly 250 percent over the past 15 years Colleges are ordered from left to right based on the amount of change in tuition and fees between 1999 and 2014 From Dicks MR, Bain B, and Knippenberg R 2015 AVMA Report on Veterinary Debt and Income P 22 Educational Debt Total Tuition Costs* for Class of 2017 Total Tuition Costs* for Class of 2018 Resident or Contract Non-resident $82,369.00 $196,621.00 $84,716.00 $201,396.00 Of the 34 Colleges in US & Carribean, Auburn ranks second from lowest for in-state tuition and 13th from lowest for out-of-state tuition AU CVM Summary of Student Attrition 2012 to 2018 • 93.7% of students completed their DVM in years • 96.6% of students completed their DVM within years Employment 2018 graduates number of offers: range to 8; average 2.4 AU CVM Senior Survey Results Two Weeks Prior to Graduation $87,233 $82,702 $73,104 $52,646 $33,578 Investigation during summer 2018: Employment information revealed that Kentucky residents with Auburn DVMs had returned to the commonwealth of Kentucky after four to eight years at an overall rate of 55.62% This rate varied by graduating class from 44.12% to 71.43% Kentucky residents graduating in the class of 2010 2011 2012 2013 2014 2010 to 2014 # of residents # Employed in Kentucky % Employed in Kentucky graduated in July 2018 in July 2018 35 25 71.43% 34 15 44.12% 36 18 50.00% 35 19 54.29% 38 22 57.89% 178 99 55.62% Years from graduation until July 2018 4 to AU College of Veterinary Medicine total budget = $88 M annually for 525 DVM students = $168,00 per DVM student Kentucky is asked to pay $32,000 per student paying in-state tuition in the next budget cycle Academic Year 2019-2020 2020-2021 est.* 2021-2022 est.* A Resident Two-semester n Non-resident TwoAnnualized Kentucky Contract Tuition & Fees nSemester Tuition & Fees Tuition Difference Fee Paid u $20,588 $48,244 $31,113 $31,000 $20,946 $49,369 $31,976 $32,000 $21,253 $50,288 $32,664 $32,000 SREB Contract Amount $33,500 $34,500 - Annualized Tuition Difference Seats on Total Kentucky Annual Kentucky Contract Contract Budget amount Fee Paid $113 152 $4,712,000 ($24) 152 $4,864,000 $664 152 Estimation based off 3% increase in tuition with no increase in student services fee or college professional fees (lack of differential change would leave annualized tuition difference unchanged) Potential Contract Amount 2020-2021 Annual Cost Seats per Total per Student Class Seats $32,000 38 152 $32,000 37 148 $32,000 36 144 $32,000 35 140 $32,000 34 136 $32,000 33 132 $32,000 32 128 $32,000 31 124 $32,000 30 120 $32,000 29 116 Total Seat Reduction 12 16 20 24 28 32 36 Total Contract $4,864,000 $4,736,000 $4,608,000 $4,480,000 $4,352,000 $4,224,000 $4,096,000 $3,968,000 $3,840,000 $3,712,000 % Reduction from 2019-2020 contract -3.23% -0.51% 2.21% 4.92% 7.64% 10.36% 13.07% 15.79% 18.51% 21.22% Presentation Objectives • Why has this relationship endured? • Data for substantive review • Potential paths forward ... the Kentucky Council on Postsecondary Education (CPE) has funded seats for their residents at Auburn University College of Veterinary Medicine (AU CVM) through a regional contract program of the... 2013-2014 $26,600 2014-2015 $27,700 2015-2016 $29,100 2016-2017 $29,100 2017-2018 $30,500 2018 -2019 $31,000 2019- 2020 $31,000 SREB Contract Amount $25,000 $25,800 $26,600 $27,700 $29,100 $31,100 $32,600... tuition Academic Year 2011-2012 2012-2013 2013-2014 2014-2015 2015-2016 2016-2017 2017-2018 2018 -2019 2019-2020 Formulas for Calculations A Resident Two-semester n Non-resident TwoAnnualized Kentucky