LOUISVILLE, Ky. (WDRB) -- Going to the University of Louisville may soon cost more.  The university's finance committee not only approved a tuition increase Thursday, but next year's budget as well.

U of L's proposed budget totals nearly $500 million -- an increase of $13.8 million from last year.

The major part of that budget is tuition and fees.  The committee approved a tuition increase of three percent for undergraduates, five percent for graduate students, and up to eight percent for specialty programs.

That puts in-state undergraduate tuition at $9,466 and out-of-state at nearly $23,000.

The U of L budget director says the increase is due to a lack of state funds.

The Board of Trustees will vote to approve the tuition increase in its June meeting.

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