SYRACUSE, N.Y. -- Syracuse University has approved a tuition hike for the 2012 to 2013 academic year.

The increase will be three-point six percent for incoming undergrad students which is the lowest increase in 46 years.

Last year's rise in tuition was 3.8 percent, and three years ago it was 4.5 percent.

Despite the tuition increase, the financial aid given to students will also be going up by 5.7 percent this year to total $204 million.