Students at Kenai Peninsula College will see a 5 percent increase in tuition following a Friday vote by the University of Alaska Board of Regents.

The change will equate to an $ 8-$11 increase for in-state undergraduate students, according to a University of Alaska Office of University of Advancement news release.

While the board voted against a tuition increase in September, an anticipated shortfall of at least $40 million caused the regents to reconsider their votes, according to the release.

About 11 percent of the university’s revenue comes from tuition, according to the release.

The tuition increase is expected to raise about $5 million in additional revenue.

Rashah McChesney is the city editor of the Peninsula Clarion. She can be reached at rashah.mcchesney@peninsulaclarion.com.