The Board of Regents approved two new degree programs, three renovation projects and the 2023-2024 budget during its annual May meeting Friday. It also elected new leadership.

The Board of Regents, in the face of post-pandemic inflationary pressures and rising costs, approved a 6% increase in its tuition “sticker price” — $54,844 — for the 2023-2024 school year. However, the board also approved a new program titled “Baylor Benefit,” a financial aid initiative meant to help students whose family income is less than $50,000 per year.