FAIRBORN, Ohio (AP) — Wright State University plans to raise tuition while cutting expenses and staff after overspending its budget by $34 million this year.
Trustees approved a plan Thursday that includes nearly $28 million in budget cuts over the next two years.
The university near Dayton will raise tuition for graduate and out-of-state students by 3 percent. State law prevents it from increasing undergraduate tuition for Ohio students.
The Dayton Daily News (http://bit.ly/1srxR7s ) reports trustees say this is the first time they were told how far over-budget the university has gone during the current fiscal year.
The school says it will reduce its staff by not filling vacant positions.
Wright State’s chief financial officer says the university’s reserves have gone from $162 million four years ago to a projected $40 million by 2018.
Information from: Dayton Daily News, http://www.daytondailynews.com