Based on the current draft of the Banking Policy, faculty who earn a course release will have allowed UNF to collect on average ~$7,500 more in tuition and fees than the cost of an adjunct instructor to cover the course. The total UNF revenue from graduate thesis tuition and fees alone is at least $500,000 annually.
Based on the proposed plan…
Based on the Banking Policy draft put forward by Academic Affairs in September, twenty banking points are needed for a course release. Faculty would earn 1 banking point for each 3 credits of undergraduate DIS supervised. Hence, 60 credits of undergraduate DIS must be supervised to earn a release.
The cost per undergraduate credit for fall 2016 through summer 2017 is $175.50. [https://www.unf.edu/tuition/] Therefore, UNF brings in 60 credits per release × $175.50 per credit = $10,530 in tuition and fees by the time a faculty member supervises sufficient undergraduate DIS to earn a release.
The amount paid to adjuncts varies across campus. For example, most adjuncts are paid $2200 per three credit hour course while other adjuncts (Biology for instance) are paid $3,000 per 3 credit lecture (if the instructor has a PhD or the class has >100 students). In the former instance, UNF collects $8330 upon each release; in the latter situation, UNF collects $7,530 upon each release.
For a release earned by teaching graduate DIS, the revenue generated for the university is even greater.
Faculty would earn 2 banking points for each 3 credits of DIS supervised. Hence, 30 credits of graduate DIS must be supervised to earn a release.
The cost per in-state graduate credit hour is $493.68 (compared to $1044.42 for out-of-state). Based solely upon in-state graduate tuition, the current proposal allows UNF to bring in $14,810 in tuition and fees by the time a faculty member supervises sufficient graduate DIS to earn a release (30 credits per release × $493.68 per credit). Subtracting the costs of a more expensive adjunct to cover while a faculty member has a release, UNF would still collect a bare minimum of $11,810 upon each release.
Some faculty have suggested that the Banking Policy should include provisions for compensating faculty at the equivalent of a summer course payment when said faculty have accumulated the appropriate banking credits but are unable to take course releases (e.g., due to program and department needs).
The median faculty salary at UNF is ~$67,700. Based on one 3 credit course as 12.5% of the 9-month appointment, the median cost for faculty summer pay is $8,460. Even at this higher payout, UNF still collects more than they pay out ($10,530 for a release earned via undergraduate DIS versus $8,460 for the supplemental pay).
Money Earned vs. Costs Incurred
The total UNF revenue from graduate thesis tuition and fees alone is at least $500,000 annually (i.e., excluding all revenues associated with traditional DIS).
The chart below shows the number of graduate thesis credit hours at UNF in 2015-16 was 982. The in-state tuition and fees for these credits is $493.68. Assuming all the students paid in-state tuition, UNF would have collected $484,796.76 on graduate thesis credits alone (982 credits × $493.68 per credit). However, many graduate students do not pay in- state tuition. Their cost per credit is $1,044.42. Hence, UNF collected well over $500,000 for graduate thesis credits in 2015-16 while incurring virtually no course-related expenditures.
The total number of graduate thesis hours at UNF can be found at: http://www.flbog.edu/resources/iud/credit_search.php. [Click <continue> twice, then set Graduate Course Type to “Graduate Thesis” and University to “UNF”].