Penn State University trustees approve $4.42B budget, tuition hikes
Penn State's Board of Trustees has approved a $4.42 billion budget and tuition increases averaging about 2.8 percent for all students.
In-state students at the main campus can expect the largest increase, 3.4 percent, which would raise tuition about $264 per semester for freshmen and sophomores.
Out-of-state main campus students will pay $400 more per semester, although their increase is smaller by percentage. Satellite campus students will see smaller increases.
President Rodney Erickson said he plans to retire by June 2014, and the trustees are expected to update the status on a search for his replacement.
Erickson took over in November 2011 after Graham Spanier left under pressure just days after the arrest of retired defensive coordinator Jerry Sandusky on child molestation charges.
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