UConn's Chief Financial Officer Richard Gray has proposed increasing tuition to increase by 6.3% for 2011. Gray also recommended a 7.6% increase in room and board costs.
“UConn has very limited sources of revenue,” said Vice President and Chief Financial Officer Richard Gray in a statement on the school's Web site. “We have absorbed more than $20 million in budget rescissions in the last two years, a loss of $8 million from our reserves, flat funding from the state, and very little investment income because of the economy, yet we must continue to meet our obligations to students.”
The increases are smaller than other tuition and fee hikes proposed across the country, administrators argued.
Proposed increases for students comes amid Gray's prediction that UConn’s budget gap could be as large as $20 million or higher in 2012.
Administrators promised with increased tuition will come increased financial aid.
“Fortunately, UConn offers very good financial aid support for students,” Gray said.
A decision on if, and how much of a tuition and fee hike will take effect, will be decided by the Board of Trustees on February 18.