The University’s board of trustees met for its regular meeting Thursday and approved the following:

University health care rates increase

In keeping with the Affordable Care Act, student health insurance fees will see an increase of 16 and 6 percent next year for undergraduate and graduate students, respectively.

The undergraduate rate will be $254, $35 more than last year, and the graduate rate will be $328, $18 more from last year.

The health insurance policy will also follow the federal mandate in prohibiting lifetime health benefit limits and raising the annual cap to $500,000 for undergraduate students and $1 million for graduate students.

The act allows three years to phase in the new requirements for commercially insured health insurance programs such as the University’s.

New academic centers created

Three new centers will open: the Center for a Sustainable Environment, Center for Farmland Research and Grainger Center for Electric Machinery and Electromechanics.

The Center for Sustainable Environment will replace the Office of Sustainability and bring together several campus units and put them all under one roof. It will cost the University $450,000 annually.

The Center for Farmland Research is being funded by TIAA-CREF, a financial services company, and will conduct research into farming and use outreach programs focusing on taxation and policy. The company will give $5 million over three years.

The Grainger Center for Electric Machinery and Electromechanics will involve students in research on the use of electric machines.

Law school implements improvements

Dean Bruce Smith of the College of Law took the podium and told board members, three of whom are alumni of the law school, that the college is taking steps towards “engineering a better, safer and more just society.”

To cope with declining applicants and renew its reputation after an admissions scandal two years ago, Smith said he has instituted new programs and changes. This includes a $10 million scholarship campaign aimed at diversifying the college’s students.

“There’s a strong link between affordability and diversity,” he said.

He also said his college was taking efforts to be more transparent both with scholarships and its application process.

University hopes to increase revenue from donations

Thomas Farrell, president of the University of Illinois Foundation, said gifts to the University are at an all-time high.

In fiscal year 2013, Farrell said the University will receive at least $167.1 million. He said he plans to double that amount in the next eight or 10 years, depending on which plan the foundation creates.

He pointed to the Grainger gift, the second $100 million donation given to the University, as a good sign. But at the same time, he stressed the need to look to alumni for more donations.

“We have a very large community to draw on,” he said.  “There’s a lot to be done.”

Austin can be reached at [email protected].