Dartmouth tuition to go up 3.8 percent
The cost of a Dartmouth College education will rise 3.8 percent next year, which represents the smallest tuition increase at the Ivy League school in more than a decade and follows last year’s record increase.
But undergraduates will still fork over $45,445 for tuition, which is $1,664 more than students are paying this year. The total cost of attending Dartmouth – including tuition and room, board and mandatory fees, is rising to $60,201. The tuition rates also apply to students in graduate studies programs and the Thayer School of Engineering.
At the same time, Dartmouth is budgeting $82 million for scholarship awards, which is a 6 percent increase over the $77 million that will be spent on scholarships this year.
About 45 percent of students receive financial aid.
Next year’s increase of 3.8 percent for tuition, room and board is the lowest increase since the 2001-02 academic year, when costs also went up 3.8 percent. At the time, the cost for tuition, room and board was $34,458.
Last year, Dartmouth capped a decade of steadily rising costs for tuition, room and board with a record 5.9 percent increase for the 2011-12 academic year.
In comparison, Brown University’s tuition for academic year 2013-14 is $44,608. With room, board and fees, Brown students will pay $57,232 next year.
At Princeton University, students will pay $40,170 in tuition, with a total cost of tuition, room and board and fees expected to be $56,750, according to the university’s website.
Students at the Geisel School of Medicine at Dartmouth will see a tuition increase of 5.5 percent to $53,432, and students at the Tuck School of Business will see a 4.9 percent increase to $58,935.
The Dartmouth Board of Trustees also approved a $981 million operating budget for fiscal year 2014, an increase of $47 million from the current year.
The college will also have a $38 million capital budget for renovations, building planning, energy conservation and computer services.
The college also estimates that it will tap $187 million from the endowment for operating and non-operating expenses, which is about 5.2 percent of the endowment’s value as of Dec. 31, 2012. Funds from the endowment will pay for about 19 percent of the college’s operating budget.
The board also approved $116.5 million to fund the Williamson Translational Research Building at Geisel School of Medicine’s campus in Lebanon. The money will pay for the building’s construction and equipment.