The Board of Regents agreed to increase tuition and fees by four-percent at The State Board of Education meeting on Wednesday.
U of I President Chuck Staben said it'll provide funding for a two-percent faculty and staff pay raise.
"One of the reasons it's important to pay faculty and staff well is to be sure we retain the best of our faculty and staff," said Staben. "Our salaries have fallen competitively, relative to our peers, and this two-percent will let us stabilize that a bit."
Staben said the extra revenue will also pay for classroom renovations and other program improvements. The fee and tuition hike will increase the university's revenue by about $3 million for the 2014 fiscal year. The university originally asked for a 4.7% increase, but the Board of Regents reduced it to an even 4%.