The rates will affect double occupancy rooms, which includes the silver meal plan, and will not affect single rooms or apartments in Spartan Village Apartments or University Village.

No-preference freshman Jake Stone is living in McDonel Hall this fall, and said he isn’t happy about the potential increase.

“To be honest, I don’t see a reason to increase prices any year,” Stone said. “There’s no way they’re not making a huge profit anyway. They just make it tougher on me.”

However, Bob Patterson, the chief financial officer for RHS, said the increases are necessary and are the lowest in the past 12 years. During that time, the average rate increase per year for housing and dining has been 5.5 percent, Patterson said.

Patterson said the increase in rates would be the lowest possible increase that would cover RHS’ budgeted expenses.

“I strive to keep housing and dining rates as affordable as possible,” Patterson said in an email. “While we do not like to increase rates any more than is needed, the prudent debt we are utilizing to renovate our facilities represents a good investment.”

The increase in housing and dining rates is because of the higher operating costs and debt service costs RHS is experiencing, Patterson said. Debt service costs, which will increase from about $9.4 million to $11.4 million for the 2012-13 academic year, are the annual principal and interest payments on 30 year bond obligations, and they have increased because of the renovations of Brody Square and South Pointe at Case Hall, Patterson said.

“If debt financing were not available, renovation of residence hall buildings funded by operating reserves would take decades to complete,” he said.

RHA President Sarah Pomeroy said despite the increasing rates, she is happy at the effort RHS is showing to keep the rates as affordable as possible.

“Obviously students never want to see their rates go up,” Pomeroy said. “But, I’m happy other rates aren’t going up, and (I) see them trying to limit the rates.”