Trustees Set Tuition, Budget for 2012-2013 Academic Year
The Boston College Board of Trustees has approved the budget for the 2012-2013 academic year, which calls for a 3.6 percent increase in tuition, fees, room and board, and provides an additional $7 million for academic and infrastructure initiatives to support the University’s strategic goals. Tuition was set at $43,140.
The board also maintained Boston College’s commitment to provide access to students from all socio-economic backgrounds by increasing need-based undergraduate financial aid by 6.4 percent to $90 million, and total student aid to $143 million.
Boston College remains one of only 21 private universities in the United States that is need-blind in admissions and meets the full demonstrated need of all accepted undergraduate students. Seventy percent of Boston College students receive some form of financial assistance. The average need-based financial aid package is projected to exceed $34,000 in 2012-2013.
“In preparing the FY ’13 budget, the University made every effort to limit the tuition increase, while maintaining our commitment to academic excellence, recruiting and retaining quality faculty, and enhancing our student formation programs and the residential life experience of our students,” said University President William P. Leahy, SJ.
“This $862 million budget represents an increase of just 2 percent over last year’s operating budget,” said Executive Vice President Patrick Keating. “The University continues to undertake a comprehensive assessment of academic and administrative departments in an effort to improve efficiencies. Through careful assessment and planning, we have managed to reduce costs without undermining our strategic goals for academics, student formation, and facilities.”
The University continues to monitor tuition costs at the select private universities with which it competes for students.
Among tuitions announced this year:
•George Washington University, up 3.7 percent to $45,780
•Carnegie Mellon University, up 4 percent to $44,880
•Dartmouth College, up 4.9 percent to $43,780
•Cornell University, up 4.5 percent to $43,185
•University of Notre Dame, up 3.8 percent to $42,971
•Brown University, up 3.6 percent to $42,808
•Georgetown University, up 3.5 percent to $42,360
Nationally, the average tuition increase for private universities for the 2011-2012 year was 4.6 percent, according to the National Association of Independent Colleges and Universities.
This year, Boston College received more than 34,000 applications for the 2,270 seats in its freshman class, placing it among the top 10 private universities in the United States for freshmen applicants.
Boston College was ranked 43rd in the “Great Schools, Great Prices” category among national universities by US News & World Report. It also placed 22nd in Kiplinger’s Personal Finance magazine’s ranking of the top 50 “best values” among American private universities. Overall, the University is ranked 31st among national universities by US News & World Report, and 26th in Forbes magazine’s “America’s Best Colleges.”