While many private universities across the nation have surpassed the $50,000 mark for a year of tuition, Boston College remains just beneath this threshold at $49,560. The raise marks a 6 percent increase from last year's cost of $46,743, keeping BC closely in line with the national average of 5.9 percent.
The board of trustees approved tuition set at $37,410, mandatory fees at $540, room fees at a minimum of $7,160, and board fees at $4,450. In comparison, this year's tuition was $35,150, mandatory fees cost $524, minimum room rate was $6,820, and board was $4,240, representing an increase of 5.6 percent over the previous school year. Tuition increases for the academic years 2006-2007 and 2005-2006 stood at 6.2 and 6.6 percent, respectively.
"This year presented many challenges for BC due to higher than anticipated inflationary pressures," said University Spokesman Jack Dunn. "Coupled with our commitment to several strategic initiatives that will improve the educational experience for BC students, we remain hopeful that next year's increase will be more moderate."
An annual increase in tuition is expected in institutions of higher education, as demanded by inflation and current economic trends. "Our goal in setting tuition each year is to enable the University to provide the best educational experience possible for our students, while keeping the promise of a BC education available for families regardless of their financial need," said Executive Vice President Patrick Keating. "This year, increased resources from tuition will enable us to hire additional faculty, expand undergraduate student programs, and increase our financial aid offerings."
Regionally, the New England area - specifically Massachusetts - has one of the highest costs of living nationwide. "It has the highest commercial energy costs in the United States," Dunn said.
"This year's tuition increase was driven by inflationary pressures - including higher energy, food, and health care costs - and by our commitment to providing a first-class educational and formational experience for all of our students," said University Provost Cutberto Garza. "While remaining committed to excellence both in and out of the classroom, we have stepped up efforts to gain yet greater efficiencies in academic and non-academic programs throughout the University to lessen financial pressures faced by families of BC students, and to narrow the gap between the cost of attending BC and median family incomes."
To meet the financial needs of students attending or planning to attend BC, the University has also increased the amount of funds allocated to financial aid by 6.5 percent, bringing the total to $114 million. "BC is exceedingly generous toward those families in need, as one of 30 private universities in the nation that is need-blind in its admissions policy," Dunn said. "We are committed to meeting the full demonstrated need of all our students."
Approximately 70 percent of BC students receive some financial aid, with the average package for 2008-2009 hovering at $27,974. "The money for financial aid comes from the interest off our endowment, which is currently $1.75 billion," Dunn said. "Other universities with bigger endowments can better moderate tuition increases because they can use more money from the interest of their endowments to support their operating budget."
By contrast, BC is a "tuition-dependent university," as 70 percent of BC's operating budget comes from tuition, room, and board charges. The operating budget for the 2008-2008 year has been set at $772 million. "We are very focused on growing the endowment," Dunn said. "Father Leahy spends a good deal of time soliciting donations from alumni and friends so that we have the resources to provide $114 million in financial aid, and so that we can provide the educational and co-curricular resources that make BC such a desirable university."
Indeed, BC remains the fourth most-applied-to private university in the country, receiving almost 31,000 applicants for a class of 2,250 - an 8 percent increase from last year. BC's 35th-place standing in the U.S. News and World Report, along with rankings in two "best value" lists, has secured BC a prominent spot among the top national universities.
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