Board to ratify 5 percent tuition increaseBy Peter Schuler
At its Friday, April 12 meeting, the University Board of Trustees is expected to ratify a 5 percent increase in undergraduate tuition, room and board charges for the academic year 2002-2003, which the boards Executive Committee passed in March.
Annual undergraduate tuition at the University currently is $26,022, and the Executive Committee moved to increase the cost to $27,324 in the academic year beginning fall 2002. Room and board charges will move from $8,312 to $8,727. Undergraduate students receiving financial aid will see their individual aid awards increased to match the increased charges.
The leading private research universities will almost all have tuition increases clustered between 4 percent and 5 percent, and the top dozen are within a few hundred dollars of one another, said President Randel. Tuition increases in excess of the consumer price index will probably be with us for the foreseeable future because of the kind of institution we are and must continue to be.
The Universitys admissions process in selecting the most qualified applicants is completely need-blind: financial aid applications have no bearing on admission to the undergraduate program. In addition, the University meets the full financial needs of its admitted students. This means that financial aid is provided to make up the difference between the cost of tuition, room and board and the amount that an individual and his or her family can afford to pay.
As our costs increase, we have adjusted the financial aid budget to reflect those changes, said Alicia Reyes, Director of the Office of College Aid. All entering undergraduates who need this support will be fully covered.
The University also will continue a policy instituted in 2000 of not deducting the amount of any scholarship funds an undergraduate receives from outside organizations from his or her University financial award.