Princeton University Announces 4.5 Percent Increase in Tuition
An enrollment fee of $38,297 for undergraduate students at Princeton University will be put into effect for the 2004-05 school year, the Board of Trustees decided on Saturday, January 24. The amount is up 4.5 percent from last year's rate of $36,649.
The Board acted on budget recommendations from President Shirley M. Tilghman, based on the recommendations of the Priorities Committee of the Council of the Princeton University Community.
The new enrollment fee, which includes tuition, room, and board, increased by the same amount as the 2003-04 school year. Last year's rate, after the 4.5 percent increase, was still lower than the national average.
"The committee is steadfast in its commitment to recommend as low a rate of increase in tuition and fees as is consistent with sustaining Princeton University's overall excellence," the report said.
Tuition for undergraduates at Princeton will be $29,910, an increase of 4.8 percent; room will be $4,315, an increase of five percent; and board will be $4,072, an increase of 1.8 percent.
Graduate student tuition will increase to $29,901, a total of 4.8 percent from last year. Room and board charges vary according to housing and dining plans.
An increase of $5 from the current $60 application fee was also recommended, but will be waived for those who cannot afford it.
According to the Board's report, the financial aid budget for student's on aid will increase to compensate for these changes. The percentage of students on financial aid increased from 38 percent for the class of 2001, to 52 percent for the class of 2007.
"Our recommended budget anticipates that more than half the students in future classes will receive financial aid," said the report.
Most Ivy league schools have yet to establish next year's rates, however Harvard University charged $37,928 last year, which was $1,279 more than Princeton.
The Board also adopted a budget of $900 million for the upcoming school year, which is slightly up from last year's budget of $827,113,000. This will include what the Board deemed as "critical staffing needs across the University," allocating just over $2 million to fund its highest priority requests.
Those staffing financial needs include departments such as human resources, public safety, athletics, health services, facilities, information technology, public affairs, University services, and the offices of the deans of faculty, graduate school, and undergraduate students.
The report also recommended that the operating budget include faculty and staff salary increases that are "somewhat smaller than last year," stating that salaries remain competitive at the University.
An addition to the library's budget for the purchase of serials, books, and electronic resources was also recommended.
The Priorities Committee report is available online, by visiting the University's website at www.princeton. edu.