{"id":592322,"date":"2024-02-09T14:01:23","date_gmt":"2024-02-09T19:01:23","guid":{"rendered":"https:\/\/www.rochester.edu\/newscenter\/?p=592322"},"modified":"2024-02-09T15:02:59","modified_gmt":"2024-02-09T20:02:59","slug":"tuition-rates-financial-aid-increases-set-for-2024-25-academic-year-592322","status":"publish","type":"post","link":"https:\/\/www.rochester.edu\/newscenter\/tuition-rates-financial-aid-increases-set-for-2024-25-academic-year-592322\/","title":{"rendered":"Tuition rates, financial aid set for 2024\u201325 academic year"},"content":{"rendered":"

Financial aid funding is rising by 7 percent to $175 million in institutional grants and scholarships.<\/h2>\n

The Ä¢¹½´«Ã½<\/a>\u2019s Board of Trustees has approved the undergraduate tuition rates, housing and food fees, and financial aid increases for the 2024\u201325 school year. Tuition for undergraduates will increase by 4.3 percent over last year to $65,870. Housing and food will increase 4.6 percent to $19,570.<\/p>\n

Reflecting Rochester\u2019s commitment to offsetting tuition increases for undergraduate students and families with demonstrated financial need, financial aid funding is rising by 7 percent from $163 million to $175 million in institutional grants and scholarships.<\/p>\n

Each year, the Board of Trustees is presented with a proposal for determining the annual tuition rates based on a careful evaluation of available revenue sources, projected operating costs and efficiencies, and the expected number of enrolled students. Tuition increases help ensure the best educational experiences for students across the University and support a wide range of programs, services, and facilities that benefit all students.<\/p>\n

Preserving Rochester\u2019s commitment to access and affordability<\/strong><\/h3>\n

Within the College (undergraduate programs in the School of Arts & Sciences and the Hajim School of Engineering & Applied Sciences), more than 71 percent of undergraduates receive some amount of financial aid, with an average need-based financial aid package of about $37,000 per year\u2014the most recent figure from 2023\u201324. Rochester has long been an engine of socioeconomic mobility as one of very few private institutions committed to meeting 100 percent of demonstrated financial need for all students who earn admission to the College. This commitment is in addition to offering a merit scholarship program, which helps make a Rochester education accessible to high-achieving students from families that don\u2019t qualify for need-based aid.<\/p>\n

Rochester\u2019s robust financial aid programs have resulted in national recognition for higher education affordability, including being ranked 30th<\/a> this year among National Universities in US News & World Report<\/em>\u2019s<\/em> \u201cBest Value Schools.\u201d Less than half of College undergraduates take out any form of loan by graduation, and the average debt among those in the Class of 2023 who did borrow was approximately $29,819, of which $18,536 were federal loans. In 2023\u201324, more than $213 million in total aid\u2014the combination of grants, loans and scholarships from federal, state, and institutional sources\u2014was awarded to undergraduates in the College.<\/p>\n

As additional tools for comparison, students and families can view the University\u2019s costs, financial aid, and other institutional figures on the US Department of Education\u2019s College Navigator website<\/a>. The University\u2019s Office of Financial Aid and Scholarships<\/a> provides an online cost estimate calculator to help students and families plan for a degree program, and financial aid officers<\/a> are available to meet with individuals to discuss their financial needs.<\/p>\n

Approved tuition rates at the University\u2019s schools<\/strong><\/h3>\n

The Board of Trustees also approved the following 2024\u201325 tuition rates for the University\u2019s schools, with complete information soon to be online at the Office of the Bursar\u2019s website<\/a>:<\/p>\n

Simon Business School <\/strong><\/p>\n