Tuition, fees, room, and board at Boston College will increase by 5.6 percent for the 2007-2008 academic year, bringing the total cost of a BC undergraduate education to $46,734.
Tuition was set at $35,150, mandatory fees at $524, minimum room rate at $6,820, and board at $4,240.
The increase, an ever-growing trend among colleges and universities, comes at a slightly lower rate than in past years. For the 2006-2007 academic year, rates were increased by 6.2 percent; for the 2005-2006 academic year rates were increased 6.6 percent.
Nationally, the average tuition, room, and board increase for private universities was 5.9 percent in 2006-2007, according to the College Board.
"This tuition plan will enable us to provide the best possible education experience for our students, while keeping the promise of a BC education available for families regardless of financial need," said Executive Vice President Patrick Keating. "We are investing in additional faculty, undergraduate education, and student-formation programs, and our increased financial aid allocations will also help to ensure accessibility to students from all backgrounds."
The University did increase financial aid by $6.2 million, or 6.2 percent, bringing the total to $107 million, unlike last year when tuition increases outpaced increases in aid. The University remains one of the 20 need-blind universities in the country, meeting the full demonstrated financial need of all admitted students.
Seventy percent of students receive financial aid, with the average need-based grant award increasing to $23,960 in 2007-2008.
University Spokesman Jack Dunn cited rising energy costs and exorbitant health care costs as major expenses. As part of the "living-wage" pay system at BC, all administrators, faculty, and staff are offered the same health care package, which is a major expense many other universities don't face.
"Dramatic increases in utility, health care, and labor costs this year played a major role in the 5.9 percent average cost increase for private colleges and universities nationwide. Here in the northeast the inflationary pressure was even greater causing many institutions to experience tuition increases that were higher than anticipated," said Dunn.
Dunn acknowledged the high cost of a college education and the burden that families face. "The Board of Trustees and administrators at BC are keenly aware of the sacrifices that parents make to send their children to BC, and they make every possible effort to limit the increase in tuition in deference to them," said Dunn.
After a 14 percent return on the endowment during the 2006 fiscal year, BC has opted to raise tuition, not following the precedent of other universities such as Princeton, which garnered enormous returns. "At $1.5 billion, our endowment is the 41st largest among colleges and universities in the U.S., but we are an institution that is tuition dependent and we must rely on tuition to enable us to meet our operating costs each year," said Dunn.
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