University regents unanimously approved a plan Friday to repay an estimated 5,700 students for tuition they overpaid since 1995 because board policy illegally charged them out-of-state tuition.
Every student overcharged will be paid cash refunds through the University and Community College System of Nevada investment income. The system and each institution currently have $6.48 million in interest earned on state money.
That would allow institutions to refund the money without cutting current programs or other operational needs, Chancellor Jane Nichols said.
Board policy required students to have lived in Nevada for one full year before the first day of classes in order to receive cheaper in-state tuition. State law only required a student to be a resident for six months or be the dependent of a bona fide Nevada resident.
The regents voted to bring board policy in line with state law in January.
Institutions have currently paid or expect to pay more than $550,000 for 2003-2004 for 152 students out of their current operational funds.
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