A 2.85% increase in tuition and fees, the lowest percent increase in more than a decade, will provide nearly $16 million of revenue, enabling Brown to continue strong support for students with financial need while supporting teaching, learning and research on campus.

Dowling, who has played a key role in the growth of Brown University’s endowment since 2013, will leave Brown to serve as global co-head of Blackstone Alternative Asset Management, effective Jan. 12, 2021.

After a successful 30-year career in global business, Artemis Joukowsky returned to Providence in service of his alma mater, where he played an instrumental role for decades in leading and supporting Brown priorities.

Brown’s governing body elected each new member based on their commitment to the University and its mission of education and research.

The approved $1.3 billion base budget includes $347 million for student aid and support, and will serve as a foundation for revised budget forecasts to contend with the full impact of COVID-19 on Brown’s financial position.

Chancellor Samuel M. Mencoff announced to the Brown community that the early extension reflects confidence in Christina H. Paxson’s leadership and excitement for sustained momentum.

Tuition and fees were approved at the Corporation’s February meeting as an initial step toward full budget approval in May 2020.