2008 Woodie Awards
Princeton Tuition Remains Stagnant
Sheeraz Hyder
Issue date: 2/23/07 Section: Local News
- Page 1 of 1
In a surprise move, Princeton University has decided to not increase the tuition rate for undergraduate students in the academic year of 2007-2008 for the first time in four decades. However, room and board will increase by 19 percent. Tuition itself will remain at 33,000, while room and board will increase by 1,780 bringing total university cost attendance to 43,980, up from 42,200 last year. The 4.2% increase is in stark comparison to last year's 4.9% and 2005-2006's five percent.
The Priorities Committee attributes its ability to hold tuition steady due to high investment returns and the high volume of alumni giving. Cass Cliatt Princeton University '96, university spokeswoman said "Every year the Priorities Committee looks for ways to capitalize on endowment returns" since at the last fiscal year the endowment had reached $13 billion and investment returns were 2.5 percent higher than last year's 17 percent.
Although the tuition is remaining stagnant, the overall cost increase, at 4.2 this year, when it has been 4.13 for the past 10, is higher than usual. Also, room and board constitute a 19 percent increase in the overall price. In the last four years, overall room and board increases have only constituted 3.4 to 4.8 percent. The increase is said to go towards improvement of the dining system and changes in the dining system within the new four-year residential colleges.
Financial aid will increase and is expected to complement the recent changes in the financial services afforded to eating clubs, this is mainly geared towards juniors and seniors so that financial liability are not their chief concern when they join an eating club. Princeton's overall fees are also lower than Harvard and Yale, which are 43,655 and 43,050 respectively.
Stevens' endowment on the other hand is approximately 140 million with an approximately 43,000 overall cost of attendance putting it higher than Princeton in terms of overall cost but also with a significantly less endowment.
The Priorities Committee attributes its ability to hold tuition steady due to high investment returns and the high volume of alumni giving. Cass Cliatt Princeton University '96, university spokeswoman said "Every year the Priorities Committee looks for ways to capitalize on endowment returns" since at the last fiscal year the endowment had reached $13 billion and investment returns were 2.5 percent higher than last year's 17 percent.
Although the tuition is remaining stagnant, the overall cost increase, at 4.2 this year, when it has been 4.13 for the past 10, is higher than usual. Also, room and board constitute a 19 percent increase in the overall price. In the last four years, overall room and board increases have only constituted 3.4 to 4.8 percent. The increase is said to go towards improvement of the dining system and changes in the dining system within the new four-year residential colleges.
Financial aid will increase and is expected to complement the recent changes in the financial services afforded to eating clubs, this is mainly geared towards juniors and seniors so that financial liability are not their chief concern when they join an eating club. Princeton's overall fees are also lower than Harvard and Yale, which are 43,655 and 43,050 respectively.
Stevens' endowment on the other hand is approximately 140 million with an approximately 43,000 overall cost of attendance putting it higher than Princeton in terms of overall cost but also with a significantly less endowment.
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