Regents Approve Tuition Freeze
The Regents of the University of California have voted to freeze tuition in exchange for tens of millions in state funding. But the so-called tuition buyout plan hinges on a tax hike.
Under the buyout plan, Governor Jerry Brown will give UC 125 million dollars, and the regents will support his ballot measure and will not hike tuition.
However, if voters reject Brown's tax plan, UC would lose all that funding, plus another $250 million. That would likely mean a steep midyear fee hike.
"This is the best we could do under very difficult circumstances," said UC President Mark Yudof. "So I support it, but I do respect those who have their doubts."
The regents were hoping to strike a multi-year agreement to stabilize funding all together.