There's good and bad news today for undergraduate resident students at the University of South Florida.
The bad news: the board of trustees has approved a tuition increase for the upcoming school year. The good news: it's 11 percent and that's less than last years increase of 15 percent.
With the $300 million budget cuts made to Florida public universities this year, universities are scrambling to make up some of that money.
Most of Florida's public universities have asked to hike up their tuition by the maximum 15 percent. University of Florida asked for a 9 percent hike.
USF Provost Ralph Wilcox says even though tuition is going up, so is financial aid money. An extra $4 million will go into financial aid.
"This softens the blow a little bit," Wilcox said, "Is it what all students would want? Probably not. What our students want is the most affordable access to the University of South Florida with a maintenance of the quality associated with the USF brand."
The Board of Trustees also approved a $2 increase to the Capital Improvement Trust Fund (CITF). The money generated from that fee would be used for a third floor addition to the Marshall Student Center.
The money would also go towards locker room renovations, fitness and training room renovations, and towards a leisure pool complex.
The approved tuition increase will be presented to the Board of Governors next week.
