The University of Minnesota Board of Regents has approved a $4.2 billion fiscal year 2020 operating budget, which includes a tuition hike.
The budget includes a 2% tuition increase, slightly lower than outgoing-President Eric Kaler's recommended 2.5% increase.
During Wednesday's board meeting, Regent Michael Shu made a motion to hold tuition steady.
"I think we kind of have to break the cycle," Shu said. "We have the money in central reserves. That money has built up because we've been charging the tuition we've been charging."
The motion was denied.
The Minnesota State Colleges and Universities system was also considering a 3% rise in tuition at it's board meeting Wednesday.