The Board of Regents of Connecticut’s state university system is meeting today to consider a $778 fee increase, and a group of students and activists are promising a system-wide walkout it the hike goes through.

In the last two years, state funding to public higher education has been slashed by more than 15 percent. Today’s planned hikes would amount to an aggregate fee hike of 11.8 percent in the same period — bringing in-state costs to nearly $9,000 a year. As recently as 2004, tuition and fees at Connecticut’s four regional universities — Central, Eastern, Southern and Western — stood at just over $5,000.

But not all students will see tuition increases if today’s proposal is approved. Facing declines in lucrative out-of-state enrollments, the Regents plan to cut out-of-state tuition for the second year in a row.

Public universities nationwide have been raising out-of-state tuition and increasing out-of-state enrollment to close budget gaps — at the University of California, out-of-state students now pay more than they would at Harvard. But only four percent of students enrolled at Connecticut’s regional state universities are out-of-staters.

In advance of today’s vote, a group called Students of Connecticut Universities for Democracy called for a system-wide walkout in the event that the increases pass. The Regents are meeting now, and supporters of the walkout are livetweeting at the hashtag #hikemeanswalk.

Check it out.

Wednesday Update | The Board of Regents delayed the vote on the proposed tuition increase until their next meeting. Their current proposal calls for a 5.5% increase for in-state students, coupled with a 2.6% cut for out-of-staters. The regents’ finance committee will consider the plan at a March 5 meeting, with the full board scheduled to take up their proposal on March 21.