ITHACA, NY — At its February meeting, the Ithaca College Board of Trustees approved a budget that features the smallest percentage increase in tuition in more than four decades.

For 2013–14, Ithaca College tuition will be $38,400, with charges for the standard room and board plan at $13,900, bringing the total cost to $52,300. The 3.8% tuition rise represents the lowest...