Kent State University trustees approved a 2 percent tuition increase today that will take effect this coming fall semester.
The increase is projected to raise an additional $6.3 million in annual revenue, said spokesman Eric Mansfield. Combined with the 4.5 percent increase in tuition for the College of Podiatric Medicine, the university estimates collecting $11 million in new tuition revenue next year.
Gregg Floyd, KSU senior vice president for finance and administration, said half of that revenue will fund student scholarships across the college’s eight-campus system, while the other half will be applied toward costs, including staff salaries.
The increase will raise tuition to $10,012 per year for undergraduates and $10,652 for graduate students — an increase of $196 and $208, respectively. Officials say Kent State will remain seventh out of Ohio’s 13 universities in terms of tuition costs despite the increase.
Note: This story was updated May 29 to reflect the 2 percent tuition increase by itself will raise $6.3 million.