The Associated Press

LEXINGTON - The University of Kentucky board of trustees approved a 14 percent tuition increase next year for undergraduate students who live in the state.

Those students will pay $4,546.50 per year in tuition, up $572 from the year before. Out-of-state students will pay $11,226.50, a $700 increase.

The board also approved a $235 per year increase in annual residence hall and dining fees, to $4,285.

UK officials said recent state budget cuts to the university of more than $8 million prompted the tuition increase.

President Lee Todd said the increase will provide about $14.5 million in new revenue, but the budget cuts leave UK "far behind its funding needs," a university statement said.

Still, "UK remains a value in education," Todd said.

The board also approved tuition increases at Lexington Community College, where students will pay $2,440.50 per year, $194 over last year. Non-Kentucky residents will pay $7,514.50 per year, a $1,212 increase.