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Trustees set tuition, room and board rates for 2003-04
The Board of Trustees on Tuesday set rates for tuition, room and board for the 2003-04 academic year that represent a combined 4.8 percent increase over the current year's rates for undergraduates.
Undergraduate tuition was set at $28,563, a 5 percent increase from $27,204 this year. The standard undergraduate room rate was set at $4,702, compared with $4,450. Standard board increased to $4,347 from $4,230.
"Given the downturn in the economy, this year is a challenging one. But we have attempted to limit the increase as much as possible," said Isaac Stein, chair of the Board of Trustees. "Despite mounting economic pressures, we have kept the overall rate of increase slightly below last year's increase."
Stein also noted, "Our financial aid program is one of the best in the country and our commitment to need-blind admission remains unchanged. Because of the state of the economy, we have seen a rise in the number of families who need aid, and we will continue to provide necessary funds for those who have demonstrated need."
Stanford is one of the few private universities with a need-blind admissions policy, accepting students regardless of their ability to pay. Tuition covers only 60 percent of the costs of educating an undergraduate.
Tuition for terminal graduate students -- doctoral candidates who have completed all coursework and degree requirements except the dissertation -- was increased to $4,950 for three quarters. At this figure, which is an increase of 50 percent over the previous rate, Stanford's terminal graduate rate is still lower than that charged by most of its peer institutions. Many of these institutions charge full tuition until the doctoral degree is awarded.
In addition, part-time graduate tuition will increase from 62 percent of full tuition to 65 percent of full tuition. The new part-time tuition rate was set at $18,600.
Full-time tuition rates for graduate students vary depending on the school. Rates for most schools will increase by 5 percent. Tuition at the Graduate School of Business next year will rise 8.9 percent to $36,252.