A recently proposed tuition plan at CU could lead to an increase in tuition for in-state students living on campus by 8.7 percent for the 2013-14 school year.

If the Board of Regents votes to approve this plan, budget officials calculate annual tuition rates to be $8,760. The plan will be presented at a regents meeting Thursday.

The tuition increase accounts for an annual increase of $704 for in-state undergraduate students in the College of Arts and Sciences. For the 2012-13 school year, there was an increase of 5 percent for tuition, which was miniscule in comparison to the proposed 15.7 percent increase in tuition for last year.

The proposal would allow for an increase in pay for staff members, who consist of one-third of CU’s working population, by 3.6 percent. It would also contribute largely to faculty and administrators’ salaries, awarded based on their merit.

$2.2 million of the overall tuition would contribute to an increase in the amount of financial aid. CU is also looking for $3.8 million of an increase in state funding, which is expected to be spent on renovations and scholarships.

Contact CU Independent Staff Writer Haleema Mian at Haleema.mian@colorado.edu.