Brown University has raised tuition for the coming school year by 4.4 percent. A year of undergraduate tuition and fees at Brown will now top $62,000.
The Brown Corporation made the decision at its annual winter meeting over the weekend. The corporation also approved an 8 percent increase in financial aid spending to help offset the tuition increase.
Brown's 2016 budget includes a $4.4 million dollar operating deficit, which will be covered by university reserves. This is the third year in a row that Brown has operated with a deficit.
Brown says a decline in federal research funding and greater than expected financial aid costs are behind the deficit. The university has implemented cost saving measures, but officials say they expect continued deficits through fiscal year 2018.
Brown has created a working group tasked with looking for ways to reduce deficit spending. The group has been asked to recommend spending cuts totaling at least $7 million.