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The as-yet unnamed online university resulting from the proposed acquisition of Kaplan University by Purdue University has set discounted tuition rates for in-state students and free tuition for Purdue employees.

The new institution's board in its first regular meeting approved a tuition discount of approximately 45 percent for Indiana residents who pursue an associate or bachelor's degree, Purdue said in a news release. The rate, including technology fees, will be the equivalent of $220 per credit hour. The total cost for a bachelor's degree would be $39,600, compared to the $80,088 (including room and board) for Indiana residents at Purdue's West Lafayette campus.

Purdue employees will be able to attend tuition-free, the university said. Their spouse, child or other immediate family members will receive a 50 percent tuition discount. To receive the employee rate, students must maintain a GPA of at least 3.0.