In a statement released earlier non Monday, it confirmed an average increase of 8% for tuition fees, residence fees and fees for international students.
The institution says the increases are in line with recommendations made by the state in September this year.
It argues that it has implemented the increases in order to remain financially stable since staff need to be remunderated, stationery needs to be purchased (some journals in foreign currency), utilities must be paid, and infrastructure has to be maintained.
The University says it will accommodate the costs of incourcing.
The decision on the fee increase for next year was approved by Council after consultation with the elected Students’ Representative Council (SRC), the statement read, despite the SRC's request for no increase in fees.
The Wits statement further says that the state has committed to funding the increase for all students with a family income of less than R600 000.
It adds that it "will do all that it can to seek bursaries and scholarships for as many students as is possible."