KNOXVILLE (AP) — University of Tennessee President Joe DiPietro says tuition increases will be at 3 percent or less for the third year in a row due to self-imposed budget restraints.

The university says in a news release that DiPietro told the school's board of trustees Wednesday is preparing another set of cost-saving goals.

In 2015, the board approved budget boundaries for two fiscal years beginning in July 2015 to address a projected $377 million annual funding gap by 2025.

DiPietro reconvened a budget advisory group in January to find more cost-cutting and revenue-generating ideas.

DiPietro will present the budget boundaries for the 2017 and 2018 fiscal years to a board subcommittee in June.