UNC Board of Governors votes to cap tuition increases - Caitlin Knute, WTVD

The Board of Governors for the University of North Carolina system unanimously approved two big budget issues that will put caps on tuition and paying for financial aid. Both measures passed with little to no debate during a meeting at the Spangler Center in Chapel Hill Friday. As a result, all North Carolina universities in the UNC system will not be able to raise tuition more than 5 percent annually for the next four years. The amount of tuition that goes toward need-based financial aid is also now capped at 15 percent. If a campus exceeds the 15 percent cap, the dollar amount of financial aid that is set aside is frozen until it falls below the 15 percent off total tuition-based revenue. Currently, that would apply to both North Carolina State University and UNC Chapel Hill. Both schools are above the allotted percentage for need-based financial aid. http://abc11.com/education/unc-board-of-governors-votes-to-cap-tuition-increases/232805/