02/09/93
CONTACT: Stanford University News Service (650) 723-2558
STANFORD -- Undergraduate tuition at Stanford University will increase 7.5 percent to $17,775 next fall, the Board of Trustees decided Tuesday, Feb. 9.
The increase next fall will be smaller than the 9.5 percent that was enacted last year and expected again this year as part of a major budget-balancing initiative. The previous two years, Stanford held increases to 5.2 and 5.8 percent.
Tuition for the current academic year is $16,536. That puts Stanford roughly in the middle (tied for 48th out of 111) of the private colleges and universities listed in the annual Cambridge Associates report. The same report found that Stanford's average tuition increase over the past five years was lower than that of all but 11 of those schools.
Tuition provides about one-half of Stanford's operating budget, the budget that pays for most faculty salaries, libraries, student services, administrative staff and facilities costs. (Tuition is not used for the direct costs of research.) Stanford is in the second year of a three-year plan to adjust the operating budget base by $43 million dollars by cutting expenses and identifying new sources of revenue.
"The budget adjustment process is going very well," Provost Gerald Lieberman said. "Every area of the university is working hard to control expenses and become more efficient, which has allowed us to make the tuition increase smaller than anticipated.
"Still, if Stanford is to remain a top-quality institution, students will have to pay for a slightly higher percentage of the cost of their education."
Stanford remains committed to a policy of need-based financial aid, which is intended to make attendance affordable for every admitted undergraduate, Lieberman said. Stanford will provide more than $30 million for undergraduate financial aid from its own resources, the provost said. More than 60 percent of all Stanford undergraduates receive some form of financial aid from a combination of university, federal, state and private sources.
The trustees also increased room and board charges $221 next fall, a 3.5 percent increase to $6,535. And they set new tuition rates for the following:
Stanford undergraduate tuition, and room and board rates, for the past five years and next year, are listed below.
1988-89 $12,564 5.8% $5,257 6.1%
1989-90 13,569 8.0 5,595 6.4
1990-91 14,280 5.2 5,930 6.0
1991-92 15,102 5.8 6,160 3.9
1992-93 (current) 16,536 9.5 6,314 2.5
1993-94 (next fall) $17,775 7.5% $6,535 3.5%
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