Tuition for the coming school year will rise 4.8 percent to nearly $29,000, the University announced yesterday.
Total charges next year will be $28,896, which includes $19,770 for tuition, $5,136 for housing and student services and $3,336 for board charges, according to a University press release.
The 4.8 percent increase in fees is the lowest percentage increase since 1969. Tuition and fees for the current school year amounted to $27,575, a 5.1 percent increase from the previous year, the press release said.
"Tuition and fees cover only about half the actual cost of educating a Harvard undergraduate," Dean of the Faculty Jeremy R. Knowles said in a statement. "Increases are limited to those necessary for sustaining the quality of our academic programs and operating the facilities that house them."
Knowles said the University has attempted to slow the growth in costs to students' families despite the mounting financial pressures that have been raising the costs of higher education.
University officials attributed the tuition increases to the rising costs of information technology and library materials and operations.
The press release noted that major building renovations recently completed or under way--including the Memorial Hall and Barker Hall projects--are being funded through private gifts, not tuition increases.
Need-Blind Admissions
Despite the tuition increases and the increasing number of students seeking financial assistance, Harvard remains committed to its policy of admitting students regardless of financial need and meeting the financial needs of all admitted students, Dean of Admissions William R. Fitzsimmons '67 said in a statement. "The Faculty of Arts and Sciences will spend more than $41 million on undergraduate financial aid next year to ensure that all admitted students can attend Harvard College," Fitzsimmons said. "More than two-thirds of our undergraduates receive some form of aid, and more than 45 percent receive direct scholarship assistance from the College." Last week, MIT announced a similar 4.8 percent increase in tuition and fees, putting the total cost for tuition, room and board at $28,350. As a result of the tuition increase, however, MIT plans to raise the amount of money students must earn on their own before receiving scholarship assistance by $450, according to a press release
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