The Kentucky Council on Postsecondary Education has approved a three to five percent limit on tuition increases for the upcoming school year.
During a meeting Friday at Northern Kentucky University, the board said tuition hikes were needed to help schools offset less state funding, as well as increases in operating costs and retirement fund contributions.
Even with the additional tuition revenue, campuses will face an $11.5 million shortfall for the 2017-18 year.
CPE President Bob King said it’s important to consider the net price of going to college as opposed to the sticker price.
"Even though the sticker prices go up, the net price to our students actually over the last five years has been relatively flat," King told WKU Public Radio. "That's because the campuses have been able to provide significant amounts of financial aid, either through tuition discounts or scholarships."
The CPE approved a three percent tuition ceiling for Western Kentucky University, four percent for the University of Kentucky and Northern Kentucky University, and a five percent limit for Eastern Kentucky University, Kentucky State University, Morehead State University, and Murray State University.
A ceiling was not set for the University of Louisville since the school's board of trustees has already voted not to increase tuition next year.
The ceiling for the Kentucky Community and Technical College System was set at six-dollars per credit hour, which is a 3.9 percent increase.
Individual schools will announce their tuition rates closer to June as they prepare their budgets for the upcoming fiscal year.
© 2017 WKU Public Radio
Copyright 2017 WKMS
