Rutgers University announced Tuesday that it is raising tuition and fees for undergraduates at three of its campuses.

The university will raise the cost of attending its New Brunswick, Newark and Camden locations by 2.9%, or about $433. The price for students living on campus will also rise the same percentage for housing and dining services for the 2019-20 school year.

Officials said the hikes will bring the price tag for a typical first-year student to $28,482, a little over $800 more than last school year. They call the increase consistent with similar universities, including those in the Big Ten Conference, and add that "a great number" of students do not pay full price.

The new rates were approved Tuesday at the Board of Governors meeting. It is as part of a $4.6 billion budget.

University President Robert Barchi also confirmed at this meeting that he will step down at the end of the upcoming school year, but will remain on the faculty. He has been the president since 2012.

Barchi oversaw the state university's integration with the former University of Medicine and Dentistry of New Jersey. The university also broke fundraising records during his tenure, expanded its health sciences program and joined the Big Ten athletic conference.

He's also faced criticism for tuition increases, which have occurred every year under his leadership.