University of Colorado to raise tuition by more than $2,500
(Reuters) – The University of California, Berkeley, plans to raise its tuition by nearly $2.4 million to help cover a projected $10 million shortfall due to an unexpected spike in enrollments from the massive earthquake that devastated the state earlier this year, the university said on Wednesday.
The university, one of the most prominent in the United States, said it expects the tuition hike will be announced in late November, and is expected to be “slightly more than half” of the $7 million increase that UC Berkeley already has approved for its public universities.
“We will have a significant amount of students on campus for the next few years,” said UC Berkeley Chancellor Nicholas Dirks.
The cost increase will cover the shortfall caused by the quake, which killed about 8,000 people in the Pacific Northwest and destroyed more than 1 million homes and businesses.
It comes as UC Berkeley is grappling with the aftermath of the catastrophic 2016 quake that triggered the worst wildfire in state history and led to massive power outages and the shutdown of its campus.
The U.S. Department of Education has called for the campus to reduce its tuition rate from $12,000 a year to $9,600 a year, which would allow it to cover the costs of an expected $10.3 million in cuts to its funding, a move that could cause it to close its campuses in Berkeley, Los Angeles and San Francisco.
The University of Vermont, one the largest public universities in the country, will also see its tuition increase by $3,500 to $4,000 from $4.5 million a year.
That comes after the Vermont Board of Regents voted to raise costs for students and faculty at the Vermont College of Law by $8,500 in 2020, but has not yet approved the cost increase for students.
The UC system is facing $15 billion in financial crisis and is struggling to cover its debts.
Its student loan debt has topped $1 trillion.