The Senate Education Committee heard more than four hours of testimony on the future of higher education funding.

One feature of the bill is a cap on tuition increases under the proposal, schools would only be able to raise tuition equal to the rate of inflation.

"The University has had a long-standing commitment to affordability, and over the past several years we've kept our tuition right at the rate of inflation," said UM System president Elson Floyd. "We have made a commitment to do that now and into the future, and that commitment isn't going to change."

Some students like the thought of paying less, but they still have some concerns.

"We are definitely concerned about the cost of tuition, and the increase and the impact that's had on students. But we think that by capping that and not having any assurance from the state to continue to fund us at increased levels, that puts the University and students in a tough position, " said Warren Robinson, a MU student lobbyist.

"We need to step up our support from the state so that they have the resources that they need to continue to be a world-class institution," said Senator Chuck Graham.

If schools break the rules, they could lose 5 percent of their funding.

This bill still has a long way to go. The committee will discuss it again at its meeting next Wednesday.

The bill would establish a joint committee of senators and representatives to monitor higher education in Missouri.