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Stetson University will provide financial assistance for employees facing rising inflation and surging gas prices, President Christopher Roellke announced Thursday.

Beginning March 31, all eligible biweekly, nonexempt employees at the central Florida university will receive a $1-per-hour wage increase. Furthermore, “if that increase still leaves a biweekly employee below $15 an hour, we will raise them to $15 an hour,” said Roellke.

Full-time, monthly exempt employees will see an annual pay bump of $1,800.

“We know these changes will be helpful but will not close the entire gap,” Roellke said. “But we care and want to do something immediately for our employees with the resources we currently have available to us.”