The trustees of financially strapped Ivy Tech Community College have approved raising tuition by $5 per credit hour each semester for the next two years amid efforts to close a $68 million budget shortfall.
The more than 8 percent annual increase approved Thursday would increase the cost of a three-hour class by $15 in the fall and by $60 in the spring of 2015. Ivy Tech currently charges $111 per credit hour.
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The Indiana Commission for Higher Education recommended no more than a 2 percent increase.
The board also passed a resolution to save $500,000 by going with PepsiCo as the college's sole beverage provider and no longer offering Coca-Cola beverages.
The 175,000-student community college also is considering closing about a quarter of its 72 locations across Indiana.