The University of Louisville Board of Trustees approved the 2012-2013 budget Thursday, including a 6 percent tuition increase for students. The state cut higher education by 6.4 percent in its final budget, which is about $9.7 million for U of L. The $482.6 million general fund budget approved by the board covers the university’s primary operations, including salaries and it includes tuition increases for students and funding cuts to departments totaling $6 million.
“We’ve had 13 cuts (in state funding) in the past 12 years,” said U of L President James Ramsey in a press release.
The university “also anticipates more than $3.9 million in additional fixed costs, such as contributions to employees’ health insurance, building leases and utility increases,” the release said.
The 6 percent increase in tuition approved by the trustees will go into effect in fall 2012. Full-time undergraduate Kentucky residents will pay $4,733 per semester, an increase of $268.