ORLANDO, Fla. - The board of governors will hold a three-day summit in Orlando starting Tuesday to discuss Florida's universities, including University of Central Florida's tuition increase plan.
Gov. Rick Scott spoke to the board of governors, which oversees Florida's 11 public universities. Each university had to submit a work plan outlining their financial needs and proposals.
Scott lectured the Board about the importance of containing costs and making higher education more affordable. According to Scott, state tuition has grown 71 percent in 4 years.
"You have to have a heck of a monopoly to go up that much," he said. "In business, it's not easy, to always have to watch how you spend every dollar, but you know what, customers make you, because you as a customer, you buy based on price."
Local 6 has obtained the work plan by UCF showing how much the university wants to increase tuition over the next four years. According to the plan, UCF will increase tuition by 15 percent each year, the maximum allowed over the next four years.
For an example, if a student enrolls at UCF in 2015, tuition and fees for 30 credit hours will be $8,863 -- or more than $3,000 than what students paid in the 2011-2012 school year.
For out-of-state students, the tuition increase in 2015 would be nearly $6,000 more than the 2011-2012 school year.
UCF President John C. Hitt said due to the state budget cuts to university system, the university is losing more than $50 million and that the full 15 percent tuition increase will restore less than $20 million of that.
This year, the state legislature cut $300 million from the state university system budget and left it up to each individual school to seek their own tuition hikes.
Scott has said in the past that parents and students shouldn't have to bear the financial burden of a tuition increase.
But Hitt said, "We're getting close," in regards to the fine line of budget cutting that would ultimately hurt the university and students.
Watch Local 6 for more information.