Students returning to Wittenberg University next year won’t pay more for their education even as the institution moves forward with its financial restructuring.

The university’s board of directors last week chose to freeze tuition, room, board and fees for all students at its fall meeting, a move that director of financial aid says will help the university provide more financial aid to students.

“The decision reflects our commitment to creating a sustainable financial model and is a natural extension of our thinking on how best to deliver a first-rate liberal arts education in a fiscally responsible way,” said Randy Green, Wittenberg director of financial aid.

New university President Laurie Joyner told the Springfield News-Sun in September that Wittenberg is looking to cut costs, attract more students and generate additional revenue after declining enrollment and budget gaps in recent years.

It’s the first time the university has moved to freeze rising education costs, according to the release. Last academic year, tuition increased 3.75 percent, according to Karen Gerboth, director of university communications.

Joyner said earlier that the size of its endowment — about $88 million — in addition to enrollment and previous spending and budgeting have contributed to the need to revamp some operations. Wittenberg also is using about half a percent more of its endowment each year than it should.

“There are two ways to help students afford a college education,” Green said. “One is through grants and scholarships, while the other is achieved by controlling the amount students pay. The latter approach benefits the entire student population.”

According to the university, it provides $35 million in scholarships and financial aid to more than 95 percent of its more than 1,700 students. Enrollment peaked in 2007 at more than 1,900 students.

“By having a zero percent increase, Wittenberg is actually better able to provide the financial support our students’ and families’ need while also continuing to ensure that students graduate in four years compared to the five or six years on average it takes at some public institutions,” Green said. “We want to get our students out the door in four, so they can begin to make their unique impact on the world.”

Wittenberg employs about 420 people and, according to a 2012 Greater Springfield Chamber of Commerce study, is the 18th largest employer in Clark County.

Joyner said it is a little bit later coming to financial hardships than other liberal arts institutions.

According to the News-Sun, Urbana University cut jobs, salaries and closed buildings in 2009. In 2007, Antioch College in Yellow Springs closed after several years of financial trouble and re-opened in 2011.

Urbana University saw a spike in enrollment during the fall, which officials credited to a tuition freeze and its recent move to NCAA Division II athletics.

Meanwhile, Clark State Community College saw an increase in enrollment this academic year, with nearly 5,200 students, compared to about 5,000 in 2011-12, according to college spokeswoman Jennifer Dietsch.