UC Regents To Consider Proposal For Massive Tuition Hike

LOS ANGELES (CBS) — The University of California regents Thursday will discuss plans to impose a multi-year tuition increase.

Students have already protested back-to-back increases, including this year's 9.6 percent hike that was approved in the wake of state budget cuts.

Regents now want 16 percent more in tuition from each student for the next four years.

If the proposal is approved, they will ask the state to fund 50 percent of the increase and students to cover the other eight percent.

If the state won't foot the bill, students will be forced to pay up, almost doubling their tuition. By the fall of 2015, tuition would cost $22,000 a year.

Financial analysts say this is just the beginning and that children born this year will likely owe $250,000 for a four-year degree.

"One of the first places they're looking at is increasing tuition at very substantial rates," adviser Jim King tells CBS2.

If the proposal is approved, it could go into effect as early as November.