The University of Illinois is in a budget hole with just one means for climbing out: hike rates.
That's just what they're going to do.
Trustees who oversee the University of Illinois' three campuses are expected to approve a sharp increase in tuition for new students.
At a meeting Thursday in Chicago they will consider a 9.5 percent increase as a way of raising money.
The tuition hike is necessary because the state of Illinois owes the university nearly $464 million in payments. The government says it can't pay because of a $13 billion budget deficit.
The 9.5 percent increase is markedly easier to swallow than a proposed 20-percent increase that was floated late last year, but still will affect pocketbooks.
At the meeting, trustees also will consider a contract that would pay new university President Michael Hogan $620,000 a year. Hogan recently announced that he would leave his post at University of Connecticut to take over the helm of U of I.
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