University 2015-16 Budget Includes Lowest Percentage Tuition Increase in 49 Years
The University’s 2015-16 budget will include the lowest percentage tuition increase in 49 years, along with the largest commitment to University-funded financial aid ever, with a total of $228 million earmarked for undergraduate students.
The full-time undergraduate tuition for the 2015-16 academic year will increase 3.5 percent from the current year—the lowest percentage increase in tuition at Syracuse in 49 years. Most room and board rates will increase by an average of 2.9 or 3 percent, depending on the room and meal plan chosen. Tuition for 2015-16 will be $41,794.
The Executive Committee of the Board of Trustees approved undergraduate tuition, room and board, and other fees for the 2015-16 academic year as proposed by the University administration.
The 2015-16 budget reflects the University’s continued commitment to slowing the growth rate of tuition and maximizing resources to enhance student experiences. Among the improvements for next year are improved infrastructure for conducting research and an accelerated schedule for capital improvements to residence halls.
The University budget will also provide for a 7 percent increase in the graduate assistant minimum stipend, a measure advanced by the Graduate Student Organization and other student groups. The budget also provides better governance of spending from the University’s endowment and reduces the amount of distributions that previously supported special projects and other expenses.
During the past six years, the University has taken significant steps to slow the growth rate of tuition. In the 2009-10 budget year, the undergraduate tuition increase was 4.5 percent. The rate has consistently been reduced since that time. Until now, the 2014-15 increase of 3.6 percent represented the lowest rate of increase since 1966.
Syracuse continues to earn national recognition for its ongoing efforts to balance costs with its commitment to delivering a high-quality education. In rankings that factor in both academic quality and net cost, Syracuse has been identified as a 2015 “Best Value School” by U.S. News & World Report and a 2015 “Best Value College” by Kiplinger’s Personal Finance.