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University Increases Financial Aid, Grows Graduate Assistants’ Stipends and Invests in Student Experience Enhancements
Syracuse University’s continued commitment to implementing an innovative academic strategic plan, creating an exceptional student experience, significantly increasing student financial aid and maximizing resources to support the university’s growth and distinction is reflected in the University’s 2018-19 budget.
The new budget reflects initiatives previously announced as part of Invest Syracuse, a $100 million investment to redefine the student experience, advance discovery and innovation and expand opportunities for students of talent and promise from across the socioeconomic spectrum.
For the 2018-19 academic year, the cost of tuition for full-time new undergraduates will increase by 3.9 percent, which was projected when Invest Syracuse was announced on July 26, 2017. That’s in addition to the previously announced Invest Syracuse tuition premium of $3,300. There is no increase in room and board rates for new undergraduates. Tuition for full-time new undergraduates will be $50,230 in 2018-19.
For full-time returning undergraduates, the tuition increase is 3.9 percent, with tuition totaling $46,930 in 2018-19. Most room and board rates for full-time returning undergraduates will increase by approximately 2-2.5 percent, depending on the room and meal plan chosen.
“While we have adjusted our tuition rates as part of our transformative Invest Syracuse initiative, it’s important to note that a significant portion of our students do not pay the full tuition rate,” says Dolan Evanovich, senior vice president for enrollment and the student experience. “In fact, roughly 75 percent of our students receive some form of financial aid. And, after accounting for scholarships and financial aid, the average net price of tuition for undergraduates is just over $29,600.”
The 2018-19 budget also includes the largest commitment to University-funded financial aid ever, totaling $264 million, a 6.5 percent increase over what was distributed the prior year.
“Expanding opportunity for promising students from across the socioeconomic spectrum is a critical goal of Invest Syracuse. Increasing our financial aid commitment is just one way we’re making that vision a reality,” says Evanovich.
In addition, graduate assistant stipends will increase by an overall average of 2.5 percent in the 2018-19 budget. The new minimum stipend for graduate students is $15,378. For students on a University Fellowship, the 2018-19 minimum amounts for fellowships have increased to $15,424 for master’s students and remain at $25,290 for doctoral students. These stipend increases are in addition to the significant cost savings many graduate assistants and fellows will recognize as a result of a new University-subsidized health care plan.
The Executive Committee of the Board of Trustees recently approved undergraduate tuition, room and board, and other fees for the 2018-19 academic year as proposed by the University administration.
About Syracuse University
Syracuse University is a private, international research university with distinctive academics, diversely unique offerings and an undeniable spirit. Located in the geographic heart of New York State, with a global footprint, and nearly 150 years of history, Syracuse University offers a quintessential college experience. The scope of Syracuse University is a testament to its strengths: a pioneering history dating back to 1870; a choice of more than 200 majors and 100 minors offered through 13 schools and colleges; nearly 15,000 undergraduates and 5,000 graduate students; more than a quarter of a million alumni in 160 countries; and a student population from all 50 U.S. states and 123 countries. For more information, please visit www.syracuse.edu.