The University of Massachusetts Board of Trustees voted Monday to increase tuition and fees by an average of 3 percent for in-state undergraduates on Monday — the third year in a row the university has increased tuition for students. Last July, trustees voted to increase tuition and fees by 5.8 percent — an increase that cost the average in-state undergraduate student $756.

The trustees broke a two-year tuition freeze in 2015 when they voted to increase tuition by 5 percent. The five-campus university system had more than 74,000 students enrolled during the 2016-17 academic year. The latest hike will in-state undergraduate students an average of $416.

"The decision to increase tuition is never made lightly," Trustees Chairman Rob Manning said in a statement. "This is a modest and reasonable increase that will require the campuses to continue to cut costs, but ensures that we maintain excellence, access and affordability."