CHAPEL HILL, NC (AP) -- The Board of Governors for the University of North Carolina system is capping tuition increases at 5 percent annually for each campus.
WTVD reported that the board also voted Friday to cap the amount of tuition revenue diverted to financial aid at 15 percent.
If a campus exceeds the 15 percent cap, the amount of financial aid would be frozen until it falls back below 15 percent of tuition income. Board members say both North Carolina State University and UNC Chapel Hill are now above 15 percent.
UNC Chapel Hill Chancellor Carol Folt sought to quiet criticism that tuition increases have paid to help low-income students. She says the median family income for students receiving financial aid in the university system is about $60,000 a year.
Information from: WTVD-TV
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