The original version of this article contained an error and has been changed. See the bottom of the article for additional information.
Gov. Jerry Brown signed California’s $96.3 billion budget into law Thursday morning, a budget that includes middle-class scholarships for college students and a $125 million increase in funding to the University of California, according The Associated Press.
Under the new financial plan, which the governor signed during a Sacramento press conference, scholarships will reduce student fees from 10 to 40 percent for students whose families earn less than $150,000. The increase in state funding will begin to reverse hundreds of millions in recent budget cuts to the University.
The budget will go into effect on Monday.
The state budget allows the UC to freeze tuition for the 2013-2014 year, said Patrick Lenz, UC vice president for budget and capital resources, in a statement released this afternoon.
Lenz said the budget will also allow the UC to invest more in online education and create savings to go toward the UC retirement plan.
“Today, the governor signed a state budget that represents a reinvestment in the University of California and provides critical funding stability after five years of fiscal uncertainty,” Lenz said in the statement. “(The) UC did not receive everything it asked for in this budget, but the funding increase certainly puts the university on a sound financial trajectory.”
There will be no tuition increase for UC campuses in the upcoming academic year, said Dianne Klein, UC spokeswoman in an email statement.
Compiled by Kristen Taketa, Bruin senior staff.
Correction: Gov. Jerry Brown approved a funding increase for the University of California last year.