KNOXVILLE, Tenn. (WATE) — The University of Tennessee Board of Trustees has approved the 2022-2023 budget for their flagship campus in Knoxville that will include a zero percent tuition cost increase and in-state tuition rates for all active-duty military and veterans.
The board approved the $1.76 billion budget on Friday which will mark the third consecutive year that the trustees approved no increases for undergraduate and graduate tuition for both in-state and out-of-state students.
Trustees also approved a measure that will classify military-affiliated students including veterans, active-duty personnel, reservists, Tennessee National Guard members and cadets with the Army and Air Force ROTC as Tennessee residents in order to receive in-state tuition.
This year’s budget represents an 11.3% increase over the previous year, including $312 million in state investments. The state appropriations include $72 million to fully fund the UT-Oak Ridge Innovation Institute, a 4% salary pool increase to fund merit and market increases for employees and $4 million in recurring funding for the new Institute for American Civics at the Howard H. Baker Jr. Center for Public Policy.
Other actions approved by the board include a $108 million budget increase for ongoing Neyland Stadium renovations.