MOUNTAIN HOME, AR (KAIT) - The Arkansas State University Board of Trustees approved an updated agreement with a non-profit partner that is building the school's campus in Queretaro, Mexico during their meeting in Mountain Home on Friday.
According to a news release, Chuck Welch, system president, said the new agreement for Arkansas State University CQ outlines the operations of the university including financial matters, personnel, academics, and safety.
A-State CQ is the first American residential campus in Mexico and the first university to award degrees that will be recognized in Mexico and the United States.
Welch expects the school's revenue could total $140 million over 20 years assuming flat enrollment after 10 years.
Trustees also discussed the length of the agreement, termination clauses, indemnity clauses to help protect the school, and clarifying the language regarding the ownership of the curriculum and trademarks.
Tuition rates will be approved by the board.
The system's non-profit partner is responsible for all of the operation costs.
The new agreement also said payments to A-State will be based on a commission rate with built-in inflation factors instead of the planned flat amount per student.
State funds are not being used to build the campus.
The three top executives of A-State CQ attended the board meeting.
Classes at A-State CQ are scheduled to begin in the fall of 2017.
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