An increase in summer tuition and a new, web-based academic initiative may be on the University’s horizon. Increased tuition, online learning, renovation costs and an endowment report were all on the agenda at the Budget, Finance and Investment Committee of the Board of Trustees on Oct. 21. Ted Winfield, associate vice president of budget and resource management, brought up two proposals regarding summer session tuition rates. The first proposal was for a 5.8 percent increase in credit hour tuition for students enrolled in summer courses, which the committee voted to pass. “Basically, the tuition credit levels are still 15 percent lower [than the academic year] to encourage students to stay and take summer courses,” Winfield said. The increase will now move up tuition credit hours to $456 per in-state student and to $1,151 for students out of state, he said. The board also approved a $15,250 fee for the US-Sino Pathway Program, a bridge program that partners with Kaplan China to get new Chinese students adapted to their course work at UVM. Trustee Deborah McAneny expressed her concern regarding the tuition rate for Chinese exchange students, which is the same fee charged to in-state students. “I’d like assurance that this is profitable,” McAneny said. “Some students [enrolled in the program] don’t need the environment.” UVM would partner with Bisk Education, a private company specializing in distance education, for the proposed program, he said. Bisk would be in charge of program development, marketing and enrollment management, although Cate said Bisk would “work with faculty members to convert courses into an appropriate online it.” Cate said that the lack of infrastructural costs would make this program feasible, and that credit hour rates would “be framed somewhere between in-state and out-of-state life.” Phase one of the Redstone renovations included full roof repair of Mason/Simpson/Hamilton and a complete, interior renovation of Simpson Hall. Finally, the report of the Investment Subcommittee, led by Trustee Sam Bain, appeared to deliver some good news for the University. Bain reported that the University’s endowment is currently valued at $330 million. “Our portfolio right now for the fiscal year is up 23 percent from last year,” he said. UVM’s investment consultant firm, Cambridge Associates, manages nearly 70 percent of higher education endowment assets in the U.S. Cambridge Associates has placed UVM in the top three percent of the institutions it represents regarding endowment performance in the past year, Bain said.