SAN FRANCISCO (AP) — The University of California is proposing to raise tuition at its 10 campuses for the second consecutive year, a move it says is necessary to compensate for state funding cuts at a time of record-high enrollment.

The UC Board of Regents plans to vote Wednesday on the proposed increase of $342, or 2.7 percent, in annual tuition and fees for the 2018-19 academic year.

California residents currently pay $12,630 in tuition and fees. If approved, the cost would increase to nearly $13,000.

Out-of-state students would pay an additional $978, bringing their total for annual tuition and fees to nearly $29,000.

The regents approved a similar increase last January, which was the first tuition hike since 2011.

Copyright 2018 The Associated Press.

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