LOUISVILLE, Ky. (AP) – The University of Louisville finance committee has blocked a proposed 5 percent tuition hike for students that would have raised costs for in-state residents by $526 a year.
Media outlets report that three trustees blocked a vote on the proposal Thursday night following a debate. The move forces President James Ramsey’s staff to come up with a different budget proposal for the fiscal year that begins July 1.
The full board normally approves the budget by June 30.
Trustee Craig Greenburg said the university should avoid the tuition increase by using some of the $38 million that the university loaned last year to the University of Louisville Foundation.
Ramsey sent an email to the university community saying that because the school’s state money will decline by $6.26 million, it will be hard to make a budget without a tuition increase.