UPDATE, JULY 15, 1:52 P.M.: Wallet misery loves company. Not to be outdone, University of California regents met Thursday and voted for a 9.6 percent tuition increase, which will be tacked onto the 8 percent increase already approved for the fall. That means California undergrads will pay $12,192 (not including campus fees or room and board), 18 percent more than last year. Top ramen, anyone?
ORIGINAL POST, JULY 13, 10:29 A.M.: For Cal State University students, this was not the news they wanted to hear on their summer vacays.
In an effort to close the giant gap left after a recent budget hacking, CSU trustees approved a 12 percent tuition hike for the fall, the third increase in three years. Undergraduate tuition will rise by $588 per year and graduate tuition by $720, affecting 412,000 students at 23 campuses throughout the state.
According to a recent U.S. Department of Education survey, CSU campuses are seeing some of the fastest-growing prices in the nation.
Students criticized the vote, saying it shuts out those who need education the most, however one-third of the revenue from the tuition increase will be set aside for financial aid, and most students with family incomes of $70,000 or less will not be affected.
The newly approved state budget reduces CSU funding by $650 million, more than 20 percent.
On Thursday, the UC Board of Regents will consider raising tuition 9.6 percent, which would add to the 8-percent increase already approved for this fall.