Penn State’s board of trustees approved a $4.6 billion budget Friday that raises tuition for most students at University Park by 2.99 percent.
For most in-state students, it means an extra $482 a year, pushing the total they pay annually for tuition to $16,572 and for that plus housing, meals and fees to $27,108.
Penn State President Eric Barron delivered the budget report Friday to the board of trustees at its meeting in Schuylkill County.
Here are some of the highlights of his presentation:
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The budget includes a $214.1 million general support appropriation from the state, which is level funding for Penn State for the third consecutive year. In 2011, state funding was cut dramatically. Since then, tuition has continued to climb.
Revenue generated by tuition and fees represents 79 percent of the university’s general fund budget, while state appropriations are 13.2 percent.
Penn State included more than $31 million in internal reallocation and targeted budget restrictions before considering a tuition increase.
The budget includes “modest” salary increases that will be enacted Oct. 1.