Tagged: Council on Postsecondary Education

FRANKFORT — The Council on Postsecondary Education has capped tuition increases at public colleges and universities at 3 percent.

The cap applies to in-state undergraduate students for the upcoming school year.

A statement from the council says it is the smallest average tuition increase for Kentucky public institutions in more than a decade.

Council President Bob King said the board felt that tuition increases should be kept "as minimal as possible" given the "challenging economic environment" that students are facing.

Despite rising tuition costs, higher education is still worthwhile because college-degree holders have higher incomes and better opportunities for employment, according to a report released Friday by the Kentucky Council on Postsecondary Education.

Employers are increasingly requiring bachelor’s degrees as part of their hiring processes, the report said. In the next eight years, the report says, more than half of Kentucky jobs will require some sort of higher education. 

Still, students are also wrestling with increasing tuition costs each year. 

The Council on Postsecondary Education has approved a six percent tuition increase for the universities of Louisville and Kentucky.

It also capped tuition at four percent for community colleges system and five percent for the state’s comprehensive universities. These rate increases will result in over $40 million for the institutions but schools are still expected to accrue deficits due to cuts to the state budget and rising maintenance costs.