Report: University of Texas could save $490M

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Associated Press

Posted on January 29, 2013 at 4:26 PM

Updated Tuesday, Jan 29 at 5:34 PM

AUSTIN, Texas (AP) — University of Texas President Bill Powers has released a new report suggesting ways the school could generate $490 million in savings and revenue over the next decade.

Among the recommendations presented Tuesday is raising room-and-board fees for students who already are facing mounting tuition costs.

The report says the university also could save money by streamlining business costs and doing a better job commercializing its research and technology.

The report was prepared for the university by a group of business leaders. Powers endorsed the goal of saving money, but says the school will be cautious about changes that could increase student expenses.

Texas lawmakers slashed nearly $1 billion from higher education in 2011 and schools are under pressure from Gov. Rick Perry to rein in tuition rates.

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