SAN FRANCISCO — University of California officials on Thursday proposed a long-term budget plan that could lead to steep tuition hikes over the next four years if the state doesn't boost funding to the 10-campus system.
School administrators presented the multiyear budget proposal at the UC Board of Regents, which is seeking to address a looming $2.5 billion budget shortfall driven by rising costs and shrinking state support. The regents discussed the plan but didn't take any action.
University officials said the plan would provide financial stability to campuses, allow families to plan for college tuition bills and help the system secure a long-term funding commitment from the governor and state Legislature.
"We must try to reach an agreement with the state of California that will allow us to plan enrollment growth and tuition rates and capital improvements over the course of years," UC President Mark Yudof told the regents.
Under the plan, UC would raise tuition by as much as 16 percent each year if the state doesn't increase funding to the UC system, which has about 412,000 undergraduate and graduate students.