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University Sets Undergraduate Tuition, Room and Board Rates for 2014-15
SU-Funded Undergraduate Student Financial Aid to Total $222 Million
The Executive Committee of the Board of Trustees recently approved undergraduate tuition, room and board, and other fees for the 2014-15 academic year as proposed by the University administration.
The full-time undergraduate tuition for the 2014-15 academic year will be $40,380, an increase of 3.6 percent. This represents the lowest percentage increase in tuition at SU in 48 years. Room and board rates will increase by between 2.9 percent and 3 percent, depending on room and meal plan chosen.
In 2014-15, the University’s budget will include the highest level ever of SU-funded financial aid to undergraduate students, $222 million, a 3.7 percent increase over 2013-14.
The University has taken significant steps during the past five years to significantly slow the growth rate of tuition. The undergraduate tuition increase in 2009-10 was 4.5 percent and the rate has consistently been reduced since that time. The 2014-15 rate of 3.6 percent matches last year’s rate and is the lowest rate of increase since 1966.
The tuition-setting process began in fall 2013, prior to Chancellor Kent Syverud assuming office in January. The Chancellor has indicated that next year he will engage and consult with University student leaders throughout the full tuition-setting process and timeline.
SU has been identified as a best value private university when considering academic quality and net cost. The University is currently ranked by U.S. News & World Report as a 2014 “Best Value School” and was named a 2014 “Best Value College” by Kiplinger’s Personal Finance.