The cost of tuition and fees grew at a rate below the rate of inflation for fifth straight year
DARTMOUTH - March 19, 2008: The 性闻联播 Board of Trustees today approved a 3.1 percent increase in student charges, marking the fifth consecutive year in which tuition-and-fee increases have been under the rate of inflation and approving a rate substantially lower than increases expected at other public colleges and universities.
"For the fifth year in a row, we've met our goal of limiting student-charge increases to a rate lower than inflation," said 性闻联播 President Jack M. Wilson. "These efforts, combined with our success in increasing student financial aid, continue to make academic excellence affordable for Massachusetts students and their families."
According to the Consumer Price Index for the Northeast Urban Region, inflation for the most recent quarter was 3.6 percent.
Chairman of the Board of Trustees Robert J. Manning said: "As the cost of attending public colleges has risen 7 percent over the past five years, the cost of attending UMass has increased by only 3.4 percent. We consider this year's increase to be modest but significant in terms of enhancing academic quality on all five campuses."
The vote, held today at the Board of Trustees' meeting at UMass Dartmouth, will increase tuition and mandatory fees from between $266 and $311 for in-state students across all four undergraduate campuses. The 3.1 percent increase means that the four-campus average cost of tuition and fees for in-state undergraduate students will rise by $288 from $9,261 to 9,549. Today's action affirms the vote taken earlier this month by the Board's Committee on Administration and Finance.
Tuition and fees for in-state undergraduate students in academic year 2008-2009 will be:
Amherst: $10,232 Boston: $9,111 Dartmouth: $8,858 Lowell: $9,006
The total cost for in-state undergraduate students in 2008-2009, including tuition, fees and room and board, will be:
Amherst: $18,346 Boston: $9,111 Dartmouth: $18,286 Lowell: $16,525
(UMass Boston does not have on-campus housing.)
Financial Aid
It was also noted at today's meeting that UMass continues to increase the amount of financial aid available to students. Financial aid for UMass students grew to record levels in 2007-2008. The University has increased its own support for student financial aid by more than $50 million over the past five years, from $35 million in FY 2003 to $85 million in FY 2008, an increase of 143 percent. Also, financial aid for UMass students from all sources has risen from $258 million in FY 2003 to $473 million in FY 2008.
President Wilson and the University's Chancellors pledged that 20 percent of the funds from the 2008-2008 student-charge increase will be directed to student financial aid, assuring that the University's investment in financial aid continues to grow at a rate substantially higher than inflation and offsetting the effects of the increase for students with the greatest financial need.
Contact:
Robert P. Connolly, 617-287-7073
Libby DeVecchi, 617-287-7023