The Cornell University Board of Trustees has approved planning parameters for the university's 2013-14 budget that entails a 3.4 percent increase in the cost of attendance -- tuition, room and board, and mandatory fees -- for most undergraduate students living on campus. New York state resident students in the university's statutory colleges, whose tuition rate is lower than for out-of-state students, would see a 4.75 percent increase in their cost of attendance.
This reflects an across-the-board tuition increase of $1,945 for all undergraduate students. Students pursuing graduate research degrees will see no rise in their tuition.
"In this budget, there will be no increase in student housing and dining rates, no increase in student fees, and no increase in research-degree tuition," said Elmira Mangum, vice president for planning and budget.
Mangum also emphasized that Cornell's strong commitment to financial aid would help ameliorate tuition increases for many undergraduate students.
"Our financial aid policies have a significant impact on lowering the actual cost of attendance for those students with the greatest financial need," she said. The university's undergraduate financial aid expenditures have gone up 123 percent in the past five years (since 2008) with an 11 percent increase in the past year. Cornell now spends $245 million on financial aid that benefits roughly 7,200 students -- or half of all undergraduates.
The new tuition rates represent a 4.5 percent increase for both endowed and out-of-state statutory college undergraduate students (the same percentage increase as for 2012-13), or $45,130 compared with the current $43,185. Overall, the cost of room and board, tuition and mandatory fees for these students will go up to $58,987 from $57,042.
The tuition for New York state undergraduate students enrolled in Cornell's statutory colleges will increase from $27,045 to $28,990, and their cost of attendance will rise from $40,902 to $42,847. The statutory college in-state tuition is $16,140 lower than the endowed and out-of-state tuition.
The trustees also approved tuition for the graduate and professional schools on the Ithaca campus for the 2013-14 academic year:
- Graduate School: For the fourth year running, the cost of research-degree tuition will remain at $29,500 for students in the endowed colleges and $20,800 for students in the statutory colleges.
- Johnson Graduate School of Management: Tuition for the two-year MBA program and for the accelerated 12-month program will increase to $55,948 from 53,796 and from $32,540 to $33,840, respectively. Two-year tuition for Cornell's executive MBA programs will increase to $157,416 for the two-year program and to $115,740 for the Cornell/Queen's program.
- Cornell Law School: Tuition rates will rise for J.D. students to $57,270. Tuition for J.S.D. students will stay at $29,500, in keeping with other doctorate degrees at the university. Students in the one-year LL.M. program will see an increase to $61,482.
- College of Veterinary Medicine: Tuition for New York state D.V.M. students will go up to $30,725 and for out-of-state D.V.M. students to $45,575.