DENVER - The regents of the University of Colorado have approved a plan to increase tuition 8.7 percent for most in-state students on the Boulder campus. Tuition for students on the Denver and Colorado Springs campuses will increase six percent.
Regents voted 6-3 Tuesday to approve the new model.
"We are all stuck between a rock and a hard place," said Regent Stephen Ludwig, who spoke during the debate about the university facing increased costs and decreased state funding.
In part, the tuition hike would go to cover salary increases for employees.
The state is requiring a 3.6 percent salary bump for classified employees, who are part of the State Personnel System. The university is also proposing a 3.1 percent increase for the rest of its work force.
"We are at real risk of losing the talent that makes this university great," said Regent Michael Carrigan, who spoke in support of the tuition increase.
"Colorado ranks 48th nationally in what the state pays for higher education," said CU spokesman Ken McConnellogue.
"The state of Colorado is not supporting higher education, and that is why we are seeing these tuition increases," said Regent Sue Sharkey.
Last year, the regents approved a five percent tuition increase for in-state students on the Boulder campus. In the last 12 years, tuition and fees have increased 136 percent.
"We are putting the burden on in-state, undergraduate, middle-income students," said Regent Jim Geddes, who voiced his opposition to the increase.
Under the new model, full-time students would be charged $365 per credit hour for 12 credit hours. Currently, full-time students pay $358 per credit hour for 11.25 credit hours per semester, though they can take several more credits.
Regents approved a 1.9 percent increase for first-year undergraduates from out-of-state on the Boulder campus, raising the incoming rate to $30,538.
They also approved a 3.1 percent increase in a merit-based compensation pool for faculty, plus 6 percent tuition hikes at CU's Denver and Colorado Springs campuses.