In the face of increasing costs and decreasing state and federal financial backing, the University of California regents on Wednesday approved a tuition hike lauded by UC leaders but fiercely opposed by students.
The board voted to renew a controversial “tuition stability” program adopted five years ago that UC officials say provide predictability in long-term costs for students and parents while bringing in much-needed cash-flow in a time of campus-level deficits, a $130-million cut in state funding, and hundreds of layoffs this year.
The plan will cap inflation-based increases at 5% each year and lock in the rates for the duration of studies for each new entering class at UC campuses. It will also cut the share of tuition revenue that goes to financial aid by 5%.