May 14, 2015

U of L finance committee passes tuition increase

The Louisville Cardinal News

By Olivia Krauth–

Despite no state cut to higher education funding, U of L’s Board of Trustees’ finance committee approved a three percent tuition and fees increase for the 2015-2016 academic year today. This is the first year in 10 years without a state cut.

The full board will vote on the increase as part of the full budget at their June 4 meeting. If it passes, it will be enforced for the next year.

The increase is part of a balanced budget for the 2015-2016 academic year. Additional student-related costs include three percent increases to resident meal plans and non-family residence halls, a $25 increase to the commuter meal plan and a few specific course fees. Recommended housing and dining prices can be found below.

The proposed budget includes three percent pay increases for faculty. Financial aid will also increase three percent to match the tuition increases.

Vice President of Finance Susan Howarth noted U of L was able to save on the budget by not having a staff health insurance increase and through energy efficiencies.

Last year, tuition was raised by five percent. Recent state rulings limit no more than eight percent increases within two years, and no more then five percent in one year. image image

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