No tuition increase planned at Princeton |
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Sun, 21 Jan 2007 23:08
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TRENTON, N.J. (AFX) - Aided by one of the nation's largest endowments, Princeton University decided Sunday not to raise tuition, something it hasn't done in four decades.Trustees chose to keep tuition, for both in-state and out-of-state students, at $33,000 for the 2007-08 school year. It's the first time since 1967-68 that annual tuition hasn't increased.Tuition at Princeton rose 5 percent, to $31,450, in 2005-06, and it went up another 4.9 percent, to $33,000, for 2006-07.This time, trustees chose to dip more into the university's endowment rather than pass more costs on to students, according to Princeton spokeswoman Cass Cliatt.As of June 2006, Princeton's endowment stood at $13 billion, with an investment return of 19.5 percent for the year. The return for the previous fiscal year was 17 percent.It's unusual for a U.S. university to hold tuition steady.In the current academic year, tuition and fees at private four-year colleges and universities are up an average of 5.9 percent, to $22,218, according to the New York-based College Board. Tuition at public four-year colleges rose an average of 6.3 percent, to $5,836.Despite Princeton's holding tuition level, room and board is increasing. For an undergraduate living on campus with a full meal contract, the total cost of going to Princeton will be $43,980 in 2007-08. That's $1,780, or 4.2 percent more than the current school year.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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