Penn State University’s Board of Trustees has approved a new budget that includes tuition hikes for students at its University Park campus. Beginning in the 2025-26 school year, in-state undergraduates will see a 2% increase, raising their annual tuition to approximately $20,468. Nonresident students will face a 4% increase. The decision aims to address the university’s $44.5 million deficit, reducing it to under $7 million by summer 2025.