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WINSTON-SALEM, N.C. (AP) -- The cost of earning a bachelor's degree from Wake Forest University is going up.

The private university in Winston-Salem said Friday the school's board of trustees approved raising undergraduate tuition by 3.25 percent for the 2014-2015 academic year. That raises undergraduate tuition from more than $44,000 to almost $46,000 next year.

The total cost of attending Wake Forest including room, board and other fees is expected to rise almost 4 percent to $62,500.

The university says the tuition rise represents the smallest percentage increase in more than 30 years and the fifth year in a row the university has kept the tuition increase below 4 percent.

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