SYRACUSE -- Tuition at Syracuse University is going up.

The board of trustees approved the hike Saturday afternoon. Tuition will go up 3.6 % for the 2012-2013 school year.

Between tuition, housing and meals, the cost for next school year is about $55,000.

The board also approved an increase in undergraduate financial aid to bring total aid to $204 million annually.

According the Syracuse University, the 2012-13 tuition increase will be the lowest percentage increase in 46 years.