ATLANTA — State colleges and universities are becoming even pricier. The Georgia Board of Regents approved a 3 percent tuition increase at its monthly meeting Tuesday.
Channel 2's Aaron Diamant attended the board's 12:30 p.m. meeting, where officials released the new rates. College fees are also going up, but the hikes were well below what was predicted to make up for budget shortfalls.
State budget cuts, rising enrollment and dwindling federal stimulus money have created a massive shortfall. The state's 35 colleges and universities are set to lose $346 million in funding for the fiscal year starting July 1.
For Georgia State University, Georgia Tech and the University of Georgia, undergraduate tuition this fall will be $3,641 per semester, a $106 increase from last year.
The tuition spike may hurt many students and families in light of recent cuts to the HOPE scholarship program. In March, a new law narrowed the pool of students eligible for the full scholarship and limit funds and services previously provided by HOPE. Gov. Nathan Deal said the lottery funds behind HOPE would not be able to keep up with rising tuition and enrollment.