UNIVERSITY PARK, Pa. (WTAJ) — The Penn State Board of Trustees Committee on Finance, Business and Capital Planning Thursday recommended for approval the University’s 2022-2023 tuition schedules that would increase tuition.
The recommended tuition schedules would increase tuition for state resident undergraduates by 5% at the University Park campus and 2% at Commonwealth Campuses. However, tuition will not increase for state residents and out-of-state undergraduate students with household incomes of $75,000 or less and who have filed a Free Application for Federal Student Aid (FAFSA).
The university said the decision was based on their commitment to access and affordability by helping students from lower and middle-income families. Penn State also invested an additional $14 million for financial aid to offset the tuition increase for these students.
Penn State President Neeli Bendapudi said the increases were caused by circumstances surrounding their budget and were necessary to continue to provide high quality educational experiences for students.
“Our commitment to our students is our highest priority,” Bendapudi said. “We understand the impact of a tuition increase on our students and families, and we do not take the decision to raise tuition lightly.”
The full board will vote on the proposed tuition and fees schedules during its meeting on Friday, July 22 at Penn State York.
More information on tuition increases can be found on Penn State University’s website.