The Board of Regents for Northern Kentucky University approved a 3 percent undergraduate tuition increase for 2016-2017 during today’s meeting in the Student Union.

There will also be a 3 percent increase in housing costs and a 3 percent increase in parking costs.

The plan approved was different than the one proposed by President Geoffrey Mearns. Mearns proposed a 4 percent tuition increase, but his plan would not have increased parking costs and would have increased housing by an average of 0.53 percent.

Undergraduate students will have their tuition increase as follows:

• For resident students, tuition will increase by $10.92 per credit hour (3 percent). This is a $131.03 increase in full-time semester rate.
• For metro students, tuition will increase by $16.50 per credit hour. This is a $198 increase in full-time semester rate.
• For non-resident students, tuition will increase by $21.84 per credit hour. This is a $262.08 increase in full-time semester rate.

Parking will increase by $3.93 for a semester pass and $6.60 for the full academic year. Parking rates for 2015-2016 were $131 for a semester and $220 for the full year.

Graduate students and Chase Law students will have their tuition increased as follows:

• For the Chase College of Law, resident rates will increase by $35 per credit hour (5.18 percent). This is a $455 increase in full-time semester rate.
• For nonresidents who attend Chase College of Law, the increase is $57 per credit hour (5.22 percent). This is a $741 increase in full-time semester rate.
• Resident graduate students will see an increase of $22 per credit hour (4.12 percent).
• Ohio/Indiana graduate students will see an increase of $26 per credit hour (4.04 percent).
• Nonresident graduate students will see an increase of $33 per credit hour (4.01 percent).

According to Amanda Nageleisen, director of public relations, the increase is consistent with tuition increases in recent years. Tuition increased 3 percent in 2014 and 4 percent in 2015.

Mike Hales, chief financial officer of NKU, said the increase was necessary due to the decreased state funding and the increase in the university contribution to the Kentucky Employees Retirement System (KERS).

Also, dining fees will increase between 3.88 and 4.06 percent.

Despite the tuition increase, Hales said the increased investment in scholarships has helped offset previous tuition increases.

NKU scholarship investments have increased from $6.9 million in 2008 to $17.4 million in 2015. It is estimated to be $19.3 million in 2016 and $21.2 million in 2017.

With scholarships and grants offsetting the cost of rising tuition rates, Hales said NKU is one of only two Kentucky public universities that have seen the net cost of an education drop over the last five years. 

This is a breaking news story. Stay with The Northerner for more updates.