LOUISVILLE, KY. (WDRB) -- The University of Louisville is offering early retirement to its senior employees -- and it could help prevent a rise in tuition.

About 300 employees have already expressed interest in the plan.  It was approved yesterday in hopes of freeing up $2.5 million to boost salaries and limit tuition increases.

The early retirement plan will be available for faculty and staff who've worked at U of L at least seven years, and whose age plus years of service equals at least 75.

Interested faculty members receive one year's salary, and staff members get six months pay.

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