The University of Pittsburgh approved a $1.94 billion operating budget Friday that includes a 3% tuition increase for all students at the main campus in Oakland and a 2% increase for students at the school's four regional campuses. The new tuition rates bring annual in-state tuition to $15,730 while out-of-state students pay $25,174.
In a release, Pitt Chancellor Mark Nordenberg cautioned, "Challenging times clearly are not behind us. Even with the elimination of cuts that had been proposed (by Governor Tom Corbett) for this fiscal year, we have only been restored to a funding level that was largely shaped by the historically deep cuts of the preceding year."
He went on to say that the reductions are evidenced by Pitt's capital projects budget, which this year has been cut by roughly two thirds, to around $57 million.
The University also implemented a Voluntary Early Retirement Program. More than 350 staff members took the school up on the offer and retired June 30.
Pitt has satellite campuses in Johnstown, Greensburg, Bradford, and Titusville.
