Tuition at the University of Louisville will once again go up for the upcoming academic year.
Thursday the school’s Board of Trustees approved a budget plan that increased tuition by 5%. That’s the maximum allowed this year by the Council on Postsecondary education.
The budget also calls for no faculty pay raises. University President James Ramsey says the tuition increase and pay freeze are necessary in today’s economy.
“It’s the best budget for a very bad time,” he says. “We’re pleased that tuition didn’t have to go up more than 5%. We’ve protected the basic academic mission and focus of the university, but there’s a lot of things we should be doing.”
The budget also cuts the price of certain mandatory meal plans by $75. The university has cut more than $200 million from its budget over the last decade as a result of drops in state funding and self-imposed cuts.