KNOXVILLE, Tenn. (WATE) – The University of Tennessee Board of Trustees approved a new budget Friday of $1.2 billion for the upcoming academic year, which includes the lowest tuition increase ever passed for UT.
Undergraduate tuition in Knoxville will go up by 2 percent. UT Chattanooga and UT Martin tuition will go up by 2.5 percent.
UT Interim President Randy Boyd says keeping tuition low is key to making higher education affordable.
“Land grant institutions were created to assist the working class and lower class to move up. We, at the University of Tennessee, are not about exclusion, but about inclusion. We are working to keep tuition low and with the creation of the UT Promise, which will start in 2020, to help families with yearly incomes of less than $50,000 to provide a ladder up to Tennesseans,” he said.
Another big topic of the meeting was joining forces. The UT Institute of Agriculture and UT Knoxville will be together as one.
The trustees also approved a resolution creating the Oak Ridge Institute to foster a stronger, more coordinated relationship with UT and the Oak Ridge National Lab. Five joint UT and ORNL programs will be under a single umbrella.