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Undergraduate tuition increase lowest in 3 years
STANFORD -- Thanks to a continuing budget-cutting drive at Stanford University, undergraduate tuition for next fall will rise by the smallest dollar amount in three years, $894, the Board of Trustees decided Tuesday, Feb. 8.
The 5 percent rise, to $18,669, is the smallest dollar increase since tuition went up $822 for the fall of 1991.
"A Stanford education is as valuable as any in the nation," President Gerhard Casper said. "However, we know and appreciate the pressures on students and their families, and have chosen to keep our tuition growth as modest as possible and our price lower than that of many other institutions in the top rank of quality education."
Stanford tuition for the current academic year is $17,775. That is lower than 22 of the 32 private institutions (a group that includes all the Ivy League schools) ranked by the Consortium on Financing Higher Education. It also is lower than 35 of the 106 private colleges and universities listed in the annual Cambridge Associates report.
"The only way we are able to keep our tuition more moderate is by taking a hard look at expenses and trying to reduce costs wherever we can," Provost Condoleezza Rice said. "Though Stanford already has tremendously tightened its budget in recent years, we have made a conscious choice to continue to do whatever we can to share the burden."
The university currently is involved in cutting operating costs by $18 million to $20 million over the next three years. That comes on top of cuts and revenue enhancements since 1990 of $65 million.
"We also remain committed to a policy of need-based financial aid," Casper said, "so that attendance remains affordable for every undergraduate who qualifies for admission."
Stanford will provide more than $32 million in undergraduate financial aid grants 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.
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.
The trustees also approved room and board charges for next fall of $6,796, a 4.0 percent increase.
In addition, the board set 1994-95 tuition rates for graduate and professional students:
Stanford undergraduate tuition, and room and board rates, for the past five years and next year, are listed below.
Year Tuition Increase and Board
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 16,536 9.5 6,314 2.5
1993-94 (current) 17,775 7.5 6,535 3.5
1994-95 (next fall) $18,669 5.0% $6,796 4.0%
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