TOLEDO -- University of Toledo President Dr. Llyod Jacobs is not going to receive a raise over the next five years.

Monday, the UT Board of Trustees approved a contract extension for Dr. Jacobs through June 30, 2016.  Jacobs is paid more than $390,000 a year and receives a car, house and expense account from the university.

Also, the trustees approved a tuition hike.

3.5%  for undergraduates and between 5 and 6.5% percent for graduate students.   The increases take effect this fall.

Do you think Dr. Jacobs did the right thing in not accepting a raise over the next five years?  What do you think of the tuition increases?  Post your comments below.