01/20/2012 04:10 pm ET

University Of Illinois Tuition Up 4.8 Percent Next Year

Less than a year after the University of Illinois approved a 6.9 percent increase in tuition for the current freshman class, the school has announced intentions to hike the tuition price by another 4.8 percent next year, bringing the annual cost of attendance to more than $24,000 at the Urbana-Champaign campus.

University President Michael Hogan blamed the hike on the "problematic" future of state funding, emphasizing that the bigger price tag represents a policy "which addresses the importance of accessibility" while ensuring the school can cover its costs, the Associated Press reports. The only "no" vote on the new tuition price was from student trustee Kenneth Thomas, the only student granted a vote on the issue.

Student fees will also be slightly higher this year, according to the Chicago Tribune. At the Urbana-Champaign and Chicago campuses, students will now pay nearly $3,000 to cover costs like building maintenance and student services, and Springfield students will pay just over $1,700.

Although the university saw an 8 perent increase in applications for this fall's freshman class, according to the Tribune, some school administrators worry that further raising the tuition costs could scare away some interested students.

"As price goes up, our competitiveness goes down; kids can get more bang for their buck elsewhere," Trustee Timothy Koritz said before the vote, according to ABC Chicago. "But more importantly, every time the price goes up, we disenfranchise some kids' chance of going to college."