The state Board of Regents will meet Wednesday in the IMU to continue discussion on tuition set-aside for student aid.

A regents’ policy passed in 2004 sets a minimum of 15 percent of gross tuition proceeds be put aside for need-based and merit-based financial aid for graduates and undergraduates.

In fiscal 2011, 23.1 percent of the gross tuition proceeds went toward student aid, and 25,583 undergraduate students at the three regents’ institutions received financial aid.

The discussion of tuition set-aside began at the regents’ last meeting, in Cedar Falls on April 25.

— by Alex Sheets