Syracuse University’s full-time undergraduate tuition will increase by 3.6 percent from $38,970 to $40,380 for the 2014-15 academic year.

Room and board rates will also increase between 2.9 and 3 percent, depending on what room and meal plan a student chooses, according to a March 21 SU News press release.

SU will fund $222 million in undergraduate student financial aid for the 2014-15 academic year, a 3.7 percent increase compared to the 2013-14 academic year’s $216 million, according to the press release.

The Board of Trustees Executive Committee approved this year’s increase at a March 6 meeting. During a March 4 Student Association meeting, SA Vice President Daniela Lopez told the assembly that she and SA President Boris Gresely talked to Chancellor Kent Syverud about a potential tuition increase.

Syverud asked them how students would react to a change. Both Gresely and Lopez told him students would respond negatively.