The University of Alaska Board of Regents has approved a proposal increasing tuition rates by $6 per credit hour for undergraduate courses and $12 for all other courses during the next fiscal year.
The increase, which will affect Kenai Peninsula Community College as it is a community campus of the University of Alaska Anchorage, was approved by an 8-2 vote and will begin in fall 2014.
The tuition bump is the second lowest in that past decade and will affect more than 30,000 students statewide according to media release. Patrick Gamble, University of Alaska President, wrote in a tuition adjustment notice memo that the moderate increase is possible because of cost-saving measures the university implemented including a hiring delay of up to 90 days on open positions.
While a portion of the university system’s cost increases are covered through funds contributed by the state, most of its revenue is generated by developments, grants and student tuition, Gamble wrote in the memo.
The regents also approved capital budget and operating budget requests for the next year totalling $388 million in state funding.