Students across the country are gearing up for another hit to their budgets. Tuition amounts for the 2012-13 school year have been released at Drake University, and once again students will be seeing an increase in charges across the board.

In a letter emailed out to students on Jan. 30, students learned of the increase. In the letter, signed by President David Maxwell, it was announced tuition would now be $29,410, a 4.11 percent increase from this year’s tuition ($28,250). Increases will help fund renovations in Olmsted Center, Cline Hall of Pharmacy and Science, Cowles Library and increase the financial aid budget.

Increases in tuition are not always welcome news on campuses and since 2002, tuition at Drake has been increased 61 percent.

In the letter, Maxwell quoted the Tuition Philosophy, which he said guides the administration and Board of Trustees in deciding on tuition changes.

“Our goal is to be ranked No. 1 in our peer group for quality, while remaining below the media of the group with respect to price,” the philosophy reads.