The Iowa Board of Regents discussed raising tuition and fees for fiscal year 2013 at its meeting Thursday.

The board said it has received $144 million in permanent cuts from state funding since 2009, but maintained that raising tuition would cover the cost of inflation, not the cost of state funding losses.

The average of the regents’ tuition increase would be $240, less than the national average of nearly $600.

ISU Government of the Student Body President Dakota Hoben said he hadn’t received any complaints about the proposed increase from students.

“As students, we understand the difficult times. We have pushed and squeezed our state budget, and we understand the idea of shared sacrifice,” Hoben said.

He added that students have dealt with their fair share over the past few years. Hoben said that the most precious capital is the most important capital.

He said he wants to make sure the universities are accessible and affordable to all.

“Understanding the role that higher education plays in the future of Iowa is essential,” Hoben said.

Hoben ultimately supported the increase.

“Students find the increase more than fair … paying for inflationary costs,” Hoben said. “We support the proposed tuition and fees for students.”

Spencer Walrath, student body president at the University of Northern Iowa, wasn’t so keen on giving his support for the increase.

He said the University of Northern Iowa is in a unique position because unlike the other two universities, 92 percent of UNI’s undergraduate students are Iowa residents.

He said 60 percent of UNI alumni stay in the state, as opposed to 39 percent of Iowa State’s.

Ultimately, Walrath said Northern Iowa is “underappreciated and undervalued by the state.”

Walrath suggested the regents re-evaluate the distribution of state funds and suggested Northern Iowa receive a greater share of appropriations.

“It’s a privilege to be here today, and I truly mean that,” Walrath told the regents. “Because if I was a high school senior this year, I wouldn’t be able to afford to come here.”

Regent Ruth Harkin said she always has a hard time supporting tuition increases, especially this year, because students and their families’ abilities to pay back the loans is decreasing.

“One of the things we say every year, and we say to ourselves, is we really have to find a way to reduce this at some point. We need to start thinking about a better business model than the one we have at the regents institutions,” Harkin said.

Regent Bruce Rastetter said the board needs to make sure cuts to the tune of $140 million stop, and articulated why education is an important investment to the state.

The regents will vote on tuition increases in December.

The board also approved Steven Leath’s contract at the meeting. Leath will take over for ISU President Gregory Geoffroy on Jan. 16.