Students at the University of Central Arkansas will see an increase in tuition and fees next year after the board of trustees approved 17 agenda items Friday morning.
Undergraduate students at the Conway university will now face a 3.86 percent increase in tuition and fees, and graduate students will pay 3.71 percent more. A bond was also issued to pay for the design and construction of the Lewis Science Center building.
The tuition increase will mean about $1.6 million in additional revenue and will help finance a 2 percent cost-of-living salary increase for all faculty and staff and a little more than $170,000 in faculty promotion and advancement costs, the university said in a statement.
The operating budget for the 2014-2015 fiscal year included several new positions, including an additional faculty position and a "major gifts officer," as well as 10 new academic advisers.
The new bond for 50,000-square-foot addition to the Lewis Science Center must not exceed $13.5 million, and the interest rate is not to be higher than 5.75 percent, according to the budget. The addition will be financed with a $3.50-per-credit-hour facility fee increase. A committee was created to oversee the construction and design of the three-story building, and the Legislative Council will review the committee's plans in June.
The fee increase will also fund the Student Activities Board and the Global Education Project.
All of the approved proposals can be read on UCA's website.