Brown University Corporation

Brown University has raised tuition for the coming school year by 4.4 percent. A year of undergraduate tuition and fees at Brown will now top $62,000.

The Brown Corporation made the decision at its annual winter meeting over the weekend. The corporation also approved an 8 percent increase in financial aid spending to help offset the tuition increase.

Brown's 2016 budget includes a $4.4 million dollar operating deficit, which will be covered by university reserves. This is the third year in a row that Brown has operated with a deficit.

The corporation that runs Brown University has decided against purging its endowment of investments in coal companies, as a student-led group, Brown Divest Coal, had campaigned for.

In a statement released by university President Christina Paxson, the corporation decided that Brown will address climate change though teaching and research, rather than through coal divestment.