FORT WORTH (CBSDFW.COM) – TCU undergraduate students can expect to pay 5.8 percent more in tuition for the 2013-2014 academic year, according to a school press release.

The TCU Board of Trustees voted to increase the tuition to $36,500 for undergrads, while also agreeing to raise institutional financial aid by 7.5 percent, or approximately $7 million.

Tuition will also rise for graduate students by 5.8 percent, or $1,270 per semester.

“Our students desire a high quality educational experience that includes a personalized setting with a low student to faculty ratio, facilities equipped with cutting edge technology and an exceptional on-campus living environment,” said Chancellor Victor J. Boschini, Jr. in a release. “The results of this kind of experience are evident in the number of students who find jobs, go on to graduate school and, ultimately, become leaders in the global community. At the same time, we must continue investing in financial aid to help those who need financial support to obtain a TCU degree.”

The tuition increases are expected to provide funds for the school to invest in additional faculty members, improving campus facilities, and improving resources, such as computer lab improvements and supporting new technologies.

In February 2012, the Board of Trustees approved a new phase of the school’s strategic plan, called the “Academy of Tomorrow”, which will guide the university for the next six years and beyond. The three-pronged plan calls for “enhancing the University’s academic profile and strengthening its reputation, fine-tuning the size and balance of the student body and constructing an optimal campus environment.”

TCU’s official enrollment for the 2012-13 academic year is 8,456 undergraduates and 1,269 graduate students for a total of 9,725 students.

The Board of Trustees will hold its next meeting April 10-12, 2013.

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