The UK Board of Trustees agreed to the higher rates at their December meeting, boosting housing costs by 4% and dining rates by nearly 9%.
While the university is touting the increase as still significantly lower than marketplace rent increases in Lexington, the reasons for the hike will sound familiar – namely inflation and rising costs.
UK executive vice president for finance and administration Eric Monday said the new housing rate is necessary to help pay rising operating costs and the dining plan rate is reflective of increasing food prices.
All students living in undergraduate residence halls are required to buy a dining plan, with the exception of those in University Flats halls.
The new rates take effect during the 2023-2024 academic year.
