The Board of Trustees met in January and approved a 6 percent increase in tuition, bringing the rate per credit hour from $365 to $390, Chancellor Michael R. Ferrari reported in February.

In addition, the University fee increased from $1,300 to $1,385, and housing charges increased slightly for students living in new or newly renovated facilities. Still, the higher charges place TCU below most of its peers for total charges, Ferrari said in a written report to faculty and staff.

“Based on tuition increases for next year at TCU and the increases at other private institutions, we will remain an excellent value in private higher education.”

The Trustees also endorsed a plan to increase undergraduate enrollment by 30 students (new freshmen and/or transfer students) and 20 graduate students (15 master’s and five doctoral). With respect to endowment support, the Board approved a 5.75 percent “spending rate” on endowment income calculated on a nine-quarter (27 months) trailing average, compared with a 5.8 percent rate this year. That figure will be reduced to 5.5 percent over the next five years to ensure the continued growth of the endowment and its annual contribution to the budget.

The University budget comes from six major sources: student charges, endowment income, unrestricted gifts, grants and contracts, auxiliary income and miscellaneous income. Student charges make up about 51 percent of total revenues, and endowment income totals about 27 percent of total revenues.