University of Louisville approves tuition hike - WDRB 41 Louisville News

University of Louisville approves tuition hike

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LOUISVILLE, Ky. (WDRB) -- University of Louisville students will have to pay more to go to college next year after a decision by its Board of Trustees.

It's a difficult pill to swallow. For an undergraduate student, the cost of tuition per semester will increase five percent or $243.

"I was counting on more financial aid and I didn't get as much as I needed to and my parents have been helping me out quite a bit," said U of L student Alina Krahulec.

The $243 increase is the same for in-state and out of state students.

U of L President Dr. James Ramsey says the university has no choice but to ask for more money from students.

President Ramsey says the school has been raising money to backfill state budget cuts.

"The expectations have actually increased on higher education while state funds have been cut, so the trade off and we've been told by policy makers the trade off is higher tuition," Ramsey said.

What makes a tuition hike this year a tough sell is the fact that the University seems to be doing very well financially in other ways. For one, U of L athletics just announced a $40 million deal with Adidas. And there are several billboards around town touting the success of U of L's capital campaign which surpassed its $1 billion goal. The U of L Board of Trustees passed the tuition hike.

"I'm not able to support a tuition increase after talking to the students, and I'm very concerned about tuition increases and rising student debt," said student body president Carrie Mattingly, the only person who voted against the increase.

And there are several billboards around town touting the success of U of L's capital campaign, which surpassed its billion dollar goal.

President Ramsey says the amount the tuition increase will bring in, about $10 million, is almost the exact amount needed to cover the 14th consecutive state budget cut, two percent raises for employees and increases in health insurance costs.

With that in mind, the school will be offering more scholarships.

It's the one thing Alina is banking on.

"It could definitely effect whether or not i'm going to school here next semester," she added.

For an undergraduate in-state student, the cost has increased by more than $650 per semester for just basic tuition in just three years.

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