Photos: UA Board of Regents Raises Tuition

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The University of Alaska Board of Regents voted to increase tuition by 5 percent this fall on Friday, February 20, 2015 during their meeting at Lee Gorsuch Commons on the campus of the University of Alaska Anchorage.

Tuition will increase at the University of Alaska system by 5 percent this fall following a UA Board of Regents meeting Friday.

In an 8-2 vote, the regents approved the tuition hike after striking down a 4 percent increase in September for the 2015-16 academic year. UA President Pat Gamble said since the regents' rejection last fall, the state's fiscal climate has worsened.

As of Friday, UA projected a $50 million shortfall next academic year, though Gamble cautioned that the number could change by the end of the state Legislative session. While the 5 percent increase would only close the anticipated budget gap by $5 million, he said, "We're down to a point where every million counts."

The tuition increase will affect both in-state and out-of-state undergraduate and graduate students. For an in-state undergraduate, tuition will increase by $8 per credit for lower level courses. An out-of-state graduate will pay $21 more.

Read more: University of Alaska Board of Regents approves tuition hike