Trustees approve 2.9 percent tuition increase, allocate more money for financial aid
The College's Board of Trustees voted Saturday to increase tuition, room, board and mandatory fees by 2.9 percent to $63,744 for the 2015-16 academic year. The Trustees also voted to allocate $88.9 million for financial aid for the 2016 fiscal year, a 6.6 percent increase from the $85 million budget for the current fiscal year.
Undergraduate tuition will increase to$48,120, an increase of $1,357 from the current academic year.The 2.9 percenttuition increaseis consistent with last year'sincreaseof the same amount, which was the lowest ratesince 1977.
Tuition at the Geisel School of Medicine and Tuck School of Business will see increases of 2.9 and 4.2 percent, respectively.
The Board approved an operating budget of $1 billion for the 2016 fiscal year, as well as a capital budget of $50 million for projects including planning for the restoration of the Baker Library bell tower, design for renovation of the Moosilauke Ravine Lodge and construction of facilities for the new residential housing communities, the College announced.
At the meeting, Provost Carolyn Dever gave a presentation about academics at the College and announced that 33 proposals were submitted for the faculty cluster initiative.