Tennessee public colleges freeze tuition

No public colleges or universities in Tennessee will increase in-state tuition for undergraduates next year.

• The statewide tuition freeze was formalized Thursday by the Tennessee Higher Education Commission (THEC).

Why it matters: Inflation is pinching wallets across the nation, and college enrollment is sagging. Officials hope keeping tuition rates stable here will make higher education more affordable for Tennessee families.

What they're saying: "Students are already facing higher prices for housing, groceries, and gas," THEC chair Evan Cope said in a statement.

• "Thanks to a generous investment from the state and today's action from the commission, we're able to tell these students that they won't be paying higher prices for tuition."

Between the lines: THEC leaders said an influx of $90 million for the higher education funding formula in the new budget helped make the tuition freeze possible.